Vanguard Group Inc. Has $3.58 Million Stake in MannKind Corporation (MNKD)

Vanguard Group Inc. lessened its stake in MannKind Corporation (NASDAQ:MNKD) by 14.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,539,558 shares of the biopharmaceutical company’s stock after selling 428,380 shares during the quarter. Vanguard Group Inc. owned 2.51% of MannKind worth $3,580,000 as of its most recent SEC filing.

Separately, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of MannKind by 20.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 98,520 shares during the period. Institutional investors and hedge funds own 12.65% of the company’s stock.

In other MannKind news, Director Kent Kresa purchased 166,600 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was purchased at an average price of $6.00 per share, for a total transaction of $999,600.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

MannKind Corporation (NASDAQ:MNKD) opened at $3.13 on Monday. The company has a debt-to-equity ratio of -0.43, a quick ratio of 0.28 and a current ratio of 0.31. MannKind Corporation has a 52 week low of $0.67 and a 52 week high of $6.96.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.11). MannKind had a negative net margin of 155.83% and a negative return on equity of 24.93%. The business had revenue of $2.04 million during the quarter, compared to analysts’ expectations of $2.56 million. During the same quarter in the prior year, the firm earned $1.30 EPS. MannKind’s revenue for the quarter was down 98.7% on a year-over-year basis. analysts anticipate that MannKind Corporation will post -1.13 EPS for the current fiscal year.

MNKD has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating on shares of MannKind in a report on Wednesday, November 8th. Maxim Group reissued a “hold” rating on shares of MannKind in a report on Wednesday, November 1st. Zacks Investment Research cut MannKind from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. ValuEngine cut MannKind from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Finally, BidaskClub cut MannKind from a “buy” rating to a “hold” rating in a report on Saturday. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $0.92.

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About MannKind

MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control.

Institutional Ownership by Quarter for MannKind (NASDAQ:MNKD)

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