MannKind Corp. (NASDAQ:MNKD) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 95,640,324 shares, a growth of 8.9% from the August 15th total of 87,818,722 shares. Based on an average trading volume of 4,864,196 shares, the days-to-cover ratio is currently 19.7 days. Approximately 29.7% of the shares of the company are short sold.

Shares of MannKind Corp. (NASDAQ:MNKD) opened at 0.6979 on Wednesday. The stock’s 50 day moving average price is $0.85 and its 200-day moving average price is $1.16. The firm’s market capitalization is $333.63 million. MannKind Corp. has a 12 month low of $0.64 and a 12 month high of $3.79.

MannKind Corp. (NASDAQ:MNKD) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. During the same period last year, the company posted ($0.07) earnings per share. On average, equities research analysts predict that MannKind Corp. will post ($0.23) EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in MannKind Corp. by 29.7% in the second quarter. Royal Bank of Canada now owns 195,551 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 44,835 shares during the period. Schwab Charles Investment Management Inc. increased its position in MannKind Corp. by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 774,705 shares of the biopharmaceutical company’s stock valued at $899,000 after buying an additional 9,986 shares during the period. Metropolitan Life Insurance Co. NY increased its position in MannKind Corp. by 46.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 251,680 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 79,997 shares during the period. State Street Corp increased its position in MannKind Corp. by 14.1% in the second quarter. State Street Corp now owns 4,789,656 shares of the biopharmaceutical company’s stock valued at $5,558,000 after buying an additional 593,406 shares during the period. Finally, ProShare Advisors LLC increased its position in MannKind Corp. by 14.7% in the second quarter. ProShare Advisors LLC now owns 405,542 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 52,002 shares during the period. Institutional investors and hedge funds own 18.90% of the company’s stock.

A number of brokerages have issued reports on MNKD. Piper Jaffray Cos. reduced their price target on MannKind Corp. from $1.50 to $0.05 and set an “underweight” rating for the company in a research report on Wednesday, June 1st. S&P Equity Research dropped their price objective on MannKind Corp. from $0.84 to $0.70 in a research note on Wednesday, August 31st. JPMorgan Chase & Co. reissued a “sell” rating on shares of MannKind Corp. in a research note on Monday, August 8th. Finally, Royal Bank Of Canada dropped their price objective on MannKind Corp. from $1.00 to $0.15 and set an “underperform” rating on the stock in a research note on Wednesday, June 1st. Four analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $2.34.

MannKind Corp. Company Profile

MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control.

5 Day Chart for NASDAQ:MNKD

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