Walleye Capital LLC raised its stake in MannKind Co. (NASDAQ:MNKD – Get Rating) by 1,188.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 468,540 shares of the biopharmaceutical company's stock after purchasing an additional 432,180 shares during the period. Walleye Capital LLC owned 0.19% of MannKind worth $1,785,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in MannKind by 277.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,056 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 5,189 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of MannKind during the second quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of MannKind during the first quarter worth approximately $39,000. Cetera Advisors LLC purchased a new position in shares of MannKind during the second quarter worth approximately $51,000. Finally, US Bancorp DE grew its position in shares of MannKind by 53.2% during the first quarter. US Bancorp DE now owns 14,257 shares of the biopharmaceutical company's stock worth $52,000 after acquiring an additional 4,952 shares during the last quarter. 46.83% of the stock is currently owned by hedge funds and other institutional investors.
Get MannKind alerts:Analysts Set New Price Targets
A number of brokerages have recently issued reports on MNKD. StockNews.com upgraded shares of MannKind from a "sell" rating to a "hold" rating in a research report on Friday, November 11th. SVB Leerink increased their price target on MannKind from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Wednesday, November 9th.
MannKind Stock Performance
MannKind stock opened at $4.95 on Thursday. MannKind Co. has a one year low of $2.49 and a one year high of $5.05. The business has a fifty day moving average of $3.93 and a two-hundred day moving average of $3.86. The company has a market cap of $1.30 billion, a P/E ratio of -13.03 and a beta of 1.77.MannKind (NASDAQ:MNKD – Get Rating) last released its earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.04. The business had revenue of $32.83 million during the quarter, compared to analyst estimates of $25.00 million. During the same period last year, the business posted ($0.04) EPS. MannKind's revenue was up 47.8% compared to the same quarter last year. Sell-side analysts predict that MannKind Co. will post -0.34 EPS for the current year.
About MannKind
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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. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism.
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