Wellington Management Group LLP Grows Holdings in MannKind Co. (NASDAQ:MNKD)

Wellington Management Group LLP raised its position in shares of MannKind Co. (NASDAQ:MNKD) by 11.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 865,295 shares of the biopharmaceutical company’s stock after purchasing an additional 85,977 shares during the period. Wellington Management Group LLP’s holdings in MannKind were worth $5,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MNKD. State Street Corp lifted its stake in shares of MannKind by 0.4% during the 3rd quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company’s stock valued at $60,366,000 after buying an additional 40,338 shares in the last quarter. Millennium Management LLC lifted its position in shares of MannKind by 189.8% in the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock valued at $24,766,000 after acquiring an additional 3,107,598 shares in the last quarter. Parkman Healthcare Partners LLC boosted its stake in shares of MannKind by 37.1% in the third quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock worth $20,783,000 after acquiring an additional 894,486 shares during the period. Two Sigma Advisers LP grew its position in shares of MannKind by 60.7% during the third quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock worth $16,658,000 after purchasing an additional 1,000,600 shares in the last quarter. Finally, TSP Capital Management Group LLC raised its stake in MannKind by 196.0% during the 2nd quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock valued at $12,486,000 after purchasing an additional 1,583,800 shares during the period. 49.55% of the stock is currently owned by institutional investors.

MannKind Trading Down 4.1 %

Shares of NASDAQ MNKD opened at $6.27 on Tuesday. MannKind Co. has a 12-month low of $3.17 and a 12-month high of $7.63. The firm’s 50-day moving average price is $6.77 and its 200-day moving average price is $6.00. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 89.57 and a beta of 1.28.

Insiders Place Their Bets

In related news, Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the transaction, the director now directly owns 1,075,026 shares of the company’s stock, valued at approximately $7,406,929.14. The trade was a 5.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stuart A. Tross sold 55,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total transaction of $403,700.00. Following the completion of the sale, the insider now directly owns 967,191 shares in the company, valued at $7,099,181.94. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 190,075 shares of company stock valued at $1,325,587 over the last ninety days. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MNKD has been the subject of a number of research analyst reports. Oppenheimer increased their price objective on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a report on Monday, September 9th. Finally, Leerink Partners initiated coverage on MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 price objective for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MannKind has a consensus rating of “Buy” and a consensus target price of $8.67.

MannKind Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.