MannKind Co. (MNKD) CEO Buys $18,320.00 in Stock
MannKind Co. (NASDAQ:MNKD) CEO Michael Castagna purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was bought at an average cost of $2.29 per share, with a total value of $18,320.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,532 shares of the company’s stock, valued at approximately $81,368.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of MannKind Co. (NASDAQ MNKD) traded down $0.11 during mid-day trading on Friday, hitting $2.41. The company’s stock had a trading volume of 4,828,215 shares, compared to its average volume of 3,120,000. MannKind Co. has a one year low of $0.67 and a one year high of $6.96. The stock has a market cap of $264.76, a P/E ratio of -8.93 and a beta of 3.07. The company has a quick ratio of 0.28, a current ratio of 0.31 and a debt-to-equity ratio of -0.43.
MannKind (NASDAQ:MNKD) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.11). MannKind had a negative net margin of 155.83% and a negative return on equity of 24.93%. The company had revenue of $2.04 million during the quarter, compared to analysts’ expectations of $2.56 million. During the same quarter last year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was down 98.7% compared to the same quarter last year. research analysts expect that MannKind Co. will post -1.13 EPS for the current year.
Several hedge funds have recently made changes to their positions in the business. Balyasny Asset Management LLC purchased a new position in shares of MannKind in the 2nd quarter valued at approximately $568,000. LMR Partners LLP acquired a new position in shares of MannKind in the second quarter worth $352,000. Dimensional Fund Advisors LP acquired a new position in shares of MannKind in the third quarter worth $270,000. Bank of New York Mellon Corp raised its holdings in shares of MannKind by 30.2% in the third quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after acquiring an additional 25,125 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of MannKind in the third quarter worth $219,000. Institutional investors own 12.11% of the company’s stock.
MNKD has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating on shares of MannKind in a report on Wednesday, November 8th. Maxim Group reiterated a “hold” rating on shares of MannKind in a research note on Wednesday, November 1st. Zacks Investment Research downgraded MannKind from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. ValuEngine downgraded MannKind from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Finally, BidaskClub downgraded MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Sell” and a consensus target price of $0.92.
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MannKind 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.
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