Scopia Capital Management LP acquired a new stake in MannKind Co. (NASDAQ:MNKD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 933,612 shares of the biopharmaceutical company’s stock, valued at approximately $1,074,000. MannKind comprises approximately 0.0% of Scopia Capital Management LP’s investment portfolio, making the stock its 21st largest holding. Scopia Capital Management LP owned about 0.49% of MannKind at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alps Advisors Inc. acquired a new stake in shares of MannKind in the second quarter valued at approximately $452,000. Chicago Equity Partners LLC acquired a new stake in shares of MannKind in the second quarter valued at approximately $259,000. BNP Paribas Arbitrage SA raised its holdings in shares of MannKind by 3,449,500.0% in the first quarter. BNP Paribas Arbitrage SA now owns 34,496 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 34,495 shares during the last quarter. Raging Capital Management LLC raised its holdings in shares of MannKind by 3.1% in the second quarter. Raging Capital Management LLC now owns 3,048,257 shares of the biopharmaceutical company’s stock valued at $3,505,000 after purchasing an additional 92,550 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of MannKind by 32.0% in the second quarter. Commonwealth Equity Services LLC now owns 60,238 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 14,590 shares during the last quarter. Institutional investors own 26.63% of the company’s stock.

MNKD has been the topic of a number of recent research reports. BidaskClub upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. ValuEngine upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $3.00.

MNKD traded down $0.01 during trading on Friday, reaching $1.31. 1,274,158 shares of the stock were exchanged, compared to its average volume of 2,567,609. The stock has a market cap of $253.14 million, a P/E ratio of -2.22 and a beta of 2.37. MannKind Co. has a twelve month low of $0.94 and a twelve month high of $2.34. The stock’s 50 day moving average price is $1.16 and its two-hundred day moving average price is $1.37.

MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07). The firm had revenue of $15.00 million for the quarter, compared to analyst estimates of $14.83 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. On average, equities analysts anticipate that MannKind Co. will post -0.3 EPS for the current year.

MannKind Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.

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Institutional Ownership by Quarter for MannKind (NASDAQ:MNKD)

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