Russell Investments Group Ltd. Sells 190,563 Shares of MannKind Co. (NASDAQ:MNKD)

Russell Investments Group Ltd. lowered its stake in MannKind Co. (NASDAQ:MNKD) by 31.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 421,659 shares of the biopharmaceutical company’s stock after selling 190,563 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of MannKind worth $2,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MNKD. State Street Corp increased its holdings in MannKind by 0.4% during the 3rd quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company’s stock worth $60,366,000 after acquiring an additional 40,338 shares during the period. Barclays PLC raised its position in shares of MannKind by 186.0% in the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock worth $3,271,000 after buying an additional 338,121 shares in the last quarter. Geode Capital Management LLC boosted its stake in MannKind by 0.4% during the third quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company’s stock valued at $39,880,000 after buying an additional 24,031 shares during the period. Franklin Resources Inc. grew its position in MannKind by 3.0% during the third quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company’s stock worth $1,047,000 after buying an additional 4,603 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company’s stock worth $1,060,000 after acquiring an additional 134,937 shares during the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Trading Up 0.2 %

MNKD stock opened at $4.54 on Friday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 64.86 and a beta of 1.22. The firm’s 50-day moving average price is $5.12 and its two-hundred day moving average price is $6.02. MannKind Co. has a 12-month low of $4.02 and a 12-month high of $7.63.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Equities analysts predict that MannKind Co. will post 0.1 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. Mizuho began coverage on MannKind in a report on Thursday, April 10th. They issued an “outperform” rating and a $12.00 price objective for the company. Finally, Wells Fargo & Company began coverage on MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price for the company. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.56.

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.