MannKind Co. (NASDAQ:MNKD) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP cut its stake in MannKind Co. (NASDAQ:MNKD) by 47.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,139 shares of the biopharmaceutical company’s stock after selling 58,829 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in MannKind were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MNKD. Millennium Management LLC lifted its position in shares of MannKind by 189.8% in the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock valued at $24,766,000 after acquiring an additional 3,107,598 shares in the last quarter. TSP Capital Management Group LLC raised its stake in MannKind by 196.0% in the 2nd quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock valued at $12,486,000 after purchasing an additional 1,583,800 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in MannKind in the 2nd quarter valued at $1,524,000. Dark Forest Capital Management LP boosted its stake in MannKind by 1,551.2% during the 2nd quarter. Dark Forest Capital Management LP now owns 275,970 shares of the biopharmaceutical company’s stock worth $1,441,000 after purchasing an additional 259,257 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of MannKind by 15.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company’s stock worth $11,859,000 after buying an additional 251,587 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MannKind

In other MannKind news, Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at $7,406,929.14. This trade represents a 5.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stuart A. Tross sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total transaction of $403,700.00. Following the completion of the transaction, the insider now owns 967,191 shares in the company, valued at approximately $7,099,181.94. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 385,236 shares of company stock worth $2,554,681 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Oppenheimer raised their price target on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. StockNews.com lowered shares of MannKind from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Leerink Partners assumed coverage on MannKind in a research report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price target for the company. Finally, Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $8.67.

MannKind Stock Performance

MNKD opened at $6.58 on Wednesday. The stock has a market capitalization of $1.81 billion, a PE ratio of 94.00 and a beta of 1.30. MannKind Co. has a one year low of $3.17 and a one year high of $7.63. The business’s 50 day moving average price is $6.71 and its 200 day moving average price is $5.78.

About MannKind

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.