MannKind Corporation (MNKD) Holdings Lowered by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. trimmed its position in MannKind Corporation (NASDAQ:MNKD) by 21.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,397 shares of the biopharmaceutical company’s stock after selling 28,680 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.11% of MannKind Corporation worth $151,000 at the end of the most recent quarter.
Separately, KCG Holdings Inc. boosted its holdings 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 worth $219,000 after buying an additional 107,752 shares during the period. Institutional investors own 13.96% of the company’s stock.
Shares of MannKind Corporation (MNKD) opened at $3.21 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of -0.43. MannKind Corporation has a fifty-two week low of $0.67 and a fifty-two week high of $6.96.
MannKind Corporation (NASDAQ:MNKD) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.11). The company had revenue of $2.04 million for the quarter, compared to analyst estimates of $2.56 million. MannKind Corporation had a negative return on equity of 24.93% and a negative net margin of 155.83%. The business’s revenue for the quarter was down 98.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 earnings per share. analysts forecast that MannKind Corporation will post -1.13 earnings per share for the current fiscal year.
In other MannKind Corporation news, Director Kent Kresa acquired 166,600 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were purchased at an average price of $6.00 per share, with a total value of $999,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
MNKD has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating on shares of MannKind Corporation in a report on Tuesday, October 24th. Maxim Group restated a “buy” rating on shares of MannKind Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded shares of MannKind Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, ValuEngine cut shares of MannKind Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $0.92.
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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