Sei Investments Co. Trims Holdings in MannKind Co. (NASDAQ:MNKD)

Sei Investments Co. cut its position in shares of MannKind Co. (NASDAQ:MNKD) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,046 shares of the biopharmaceutical company’s stock after selling 21,301 shares during the period. Sei Investments Co.’s holdings in MannKind were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MNKD. Jones Financial Companies Lllp boosted its holdings in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 6,392 shares in the last quarter. Beirne Wealth Consulting Services LLC purchased a new stake in MannKind during the fourth quarter valued at approximately $66,000. Marshall Investment Management LLC acquired a new stake in MannKind in the fourth quarter valued at approximately $69,000. Proficio Capital Partners LLC purchased a new position in MannKind in the fourth quarter worth $70,000. Finally, Quantinno Capital Management LP acquired a new position in shares of MannKind during the third quarter worth $85,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Stock Performance

Shares of NASDAQ MNKD opened at $4.69 on Thursday. MannKind Co. has a fifty-two week low of $3.97 and a fifty-two week high of $7.63. The stock’s 50-day simple moving average is $5.24 and its 200-day simple moving average is $6.09. The firm has a market capitalization of $1.43 billion, a PE ratio of 67.00 and a beta of 1.22.

MannKind (NASDAQ:MNKD) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The firm had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. On average, sell-side analysts forecast that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MNKD has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of MannKind in a research note on Thursday, February 27th. Wells Fargo & Company began coverage on shares of MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.21.

About MannKind

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.