Traders Purchase High Volume of MannKind Corporation Call Options (MNKD)
MannKind Corporation (NASDAQ:MNKD) saw some unusual options trading activity on Wednesday. Investors purchased 26,536 call options on the stock. This is an increase of 905% compared to the typical daily volume of 2,640 call options.
MNKD has been the topic of several recent research reports. ValuEngine cut shares of MannKind Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of MannKind Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Maxim Group reissued a “buy” rating on shares of MannKind Corporation in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. MannKind Corporation presently has an average rating of “Hold” and an average target price of $0.92.
Several large investors have recently added to or reduced their stakes in MNKD. Balyasny Asset Management LLC acquired a new position in shares of MannKind Corporation in the 2nd quarter valued at $568,000. LMR Partners LLP acquired a new stake in MannKind Corporation during the 2nd quarter worth about $352,000. KCG Holdings Inc. boosted its position in MannKind Corporation by 268.0% during the 1st quarter. KCG Holdings Inc. now owns 147,952 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 107,752 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in MannKind Corporation by 20.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock worth $830,000 after acquiring an additional 98,520 shares during the period. Institutional investors and hedge funds own 15.67% of the company’s stock.
MannKind Corporation (NASDAQ:MNKD) opened at 5.03 on Monday. The firm has a market capitalization of $526.55 million, a PE ratio of 3.79 and a beta of 3.16. The firm has a 50-day moving average of $2.17 and a 200 day moving average of $1.53. MannKind Corporation has a 52 week low of $0.67 and a 52 week high of $6.51.
MannKind Corporation (NASDAQ:MNKD) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.35) 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 analyst estimates of $2.75 million. MannKind Corporation had a net margin of 71.60% and a negative return on equity of 24.93%. During the same period last year, the business posted $0.08 earnings per share. Analysts predict that MannKind Corporation will post ($0.94) earnings per share for the current year.
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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