Harel Insurance Investments & Financial Services Ltd. Buys 98,520 Shares of MannKind Corporation (NASDAQ:MNKD)
Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of MannKind Corporation (NASDAQ:MNKD) by 20.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 588,520 shares of the biopharmaceutical company’s stock after buying an additional 98,520 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in MannKind Corporation were worth $830,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MNKD. KCG Holdings Inc. boosted its position in shares of MannKind Corporation by 268.0% in the first quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock valued at $219,000 after buying an additional 107,752 shares in the last quarter. Norges Bank bought a new position in shares of MannKind Corporation during the fourth quarter valued at $866,000. Finally, State Street Corp boosted its position in shares of MannKind Corporation by 2.9% in the fourth quarter. State Street Corp now owns 5,091,948 shares of the biopharmaceutical company’s stock valued at $3,242,000 after buying an additional 145,754 shares in the last quarter. Institutional investors own 17.69% of the company’s stock.
Shares of MannKind Corporation (NASDAQ MNKD) opened at 1.15 on Thursday. The stock has a 50 day moving average price of $1.31 and a 200-day moving average price of $1.23. MannKind Corporation has a 52-week low of $0.41 and a 52-week high of $2.38. The stock has a market capitalization of $120.31 million, a PE ratio of 0.87 and a beta of 3.30.
MannKind Corporation (NASDAQ:MNKD) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.10. The business had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $2.75 million. MannKind Corporation had a negative return on equity of 24.93% and a net margin of 71.60%. During the same period last year, the company posted $0.08 earnings per share. On average, equities research analysts anticipate that MannKind Corporation will post ($1.09) EPS for the current fiscal year.
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Several research analysts recently weighed in on the company. ValuEngine cut MannKind Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. J P Morgan Chase & Co reiterated an “underweight” rating on shares of MannKind Corporation in a research report on Monday, May 22nd. Piper Jaffray Companies set a $1.00 price target on MannKind Corporation and gave the company a “sell” rating in a research report on Thursday, May 11th. Finally, S&P Equity Research reduced their price target on MannKind Corporation from $1.04 to $0.83 in a research report on Monday, May 8th.
About MannKind Corporation
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.
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