MannKind Co. (NASDAQ:MNKD) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its stake in MannKind Co. (NASDAQ:MNKD) by 25.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,268 shares of the biopharmaceutical company’s stock after selling 28,704 shares during the quarter. Trexquant Investment LP’s holdings in MannKind were worth $535,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in MannKind by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company’s stock worth $103,257,000 after purchasing an additional 420,334 shares during the last quarter. State Street Corp grew its stake in shares of MannKind by 0.4% in 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 during the period. Geode Capital Management LLC increased its holdings in shares of MannKind by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company’s stock worth $40,996,000 after buying an additional 35,346 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock valued at $31,427,000 after buying an additional 3,587,484 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in MannKind by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company’s stock valued at $14,597,000 after acquiring an additional 45,277 shares during the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Stock Up 0.4 %

Shares of MNKD opened at $4.66 on Friday. MannKind Co. has a fifty-two week low of $3.97 and a fifty-two week high of $7.63. The company has a market cap of $1.42 billion, a P/E ratio of 66.57 and a beta of 1.22. The firm’s 50 day moving average price is $5.20 and its 200 day moving average price is $6.07.

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

Analyst Upgrades and Downgrades

MNKD has been the topic of a number of research analyst reports. Mizuho began coverage on MannKind in a research report on Thursday. They issued an “outperform” rating and a $12.00 target price on the stock. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th. Wells Fargo & Company started coverage on shares of MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. Finally, Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and increased their price objective 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 two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $9.56.

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.