MannKind Co. (NASDAQ:MNKD – Get Rating)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.72 and traded as high as $3.72. MannKind shares last traded at $3.57, with a volume of 19,594,710 shares traded.
MannKind Stock Performance
The company's fifty day moving average is $3.85 and its two-hundred day moving average is $3.72. The company has a market cap of $901.66 million, a price-to-earnings ratio of -10.50 and a beta of 1.74.
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MannKind (NASDAQ:MNKD – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The business had revenue of $18.90 million during the quarter, compared to analyst estimates of $15.62 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The company's quarterly revenue was down 18.9% on a year-over-year basis. On average, sell-side analysts anticipate that MannKind Co. will post -0.38 EPS for the current fiscal year.
Insiders Place Their Bets
In other MannKind news, EVP David Thomson sold 7,000 shares of the company's stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $3.67, for a total value of $25,690.00. Following the sale, the executive vice president now owns 726,035 shares in the company, valued at approximately $2,664,548.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have purchased 18,100 shares of company stock worth $53,033. Corporate insiders own 2.30% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in MNKD. Oakworth Capital Inc. purchased a new position in MannKind in the 1st quarter valued at $25,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of MannKind by 277.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,056 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 5,189 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of MannKind in the 2nd quarter worth $30,000. International Assets Investment Management LLC acquired a new stake in shares of MannKind in the 1st quarter worth $39,000. Finally, Cetera Advisors LLC acquired a new stake in shares of MannKind in the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 46.83% of the company's stock.
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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