MannKind (NASDAQ:MNKD) Stock Crosses Above 200 Day Moving Average – Should You Sell?

MannKind Corporation (NASDAQ:MNKD)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.25 and traded as high as $5.87. MannKind shares last traded at $5.74, with a volume of 1,726,542 shares.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MNKD. Royal Bank Of Canada cut their price objective on MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Leerink Partners started coverage on MannKind in a report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of MannKind in a research note on Monday, January 26th. Wells Fargo & Company lowered their target price on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of MannKind from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $10.06.

MannKind Stock Down 1.5%

The firm has a market cap of $1.76 billion, a P/E ratio of 57.40 and a beta of 0.84. The stock’s 50-day moving average is $5.75 and its 200-day moving average is $5.25.

Insider Activity

In related news, insider Stuart A. Tross sold 47,006 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $6.33, for a total transaction of $297,547.98. Following the transaction, the insider directly owned 985,007 shares in the company, valued at $6,235,094.31. The trade was a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sanjay R. Singh sold 18,777 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $5.03, for a total value of $94,448.31. Following the completion of the transaction, the executive vice president directly owned 455,211 shares of the company’s stock, valued at approximately $2,289,711.33. This trade represents a 3.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 281,623 shares of company stock valued at $1,641,289. Insiders own 2.70% of the company’s stock.

Institutional Trading of MannKind

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of MannKind by 19.8% in the first quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 9,160 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MannKind by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock valued at $1,059,000 after buying an additional 6,079 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MannKind by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company’s stock worth $3,374,000 after acquiring an additional 53,202 shares during the period. Master S Wealth Management Inc. bought a new position in shares of MannKind during the 2nd quarter worth about $44,000. Finally, 180 Wealth Advisors LLC boosted its position in shares of MannKind by 17.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 2,582,010 shares of the biopharmaceutical company’s stock valued at $9,657,000 after acquiring an additional 387,306 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.

About MannKind

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.