Advantage Alpha Capital Partners LP Trims Stake in MannKind Co. (NASDAQ:MNKD)

Advantage Alpha Capital Partners LP lowered its holdings in MannKind Co. (NASDAQ:MNKD) by 55.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,615 shares of the biopharmaceutical company’s stock after selling 36,524 shares during the period. Advantage Alpha Capital Partners LP’s holdings in MannKind were worth $190,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Jones Financial Companies Lllp raised its stake in MannKind by 3,294.8% in the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 6,392 shares in the last quarter. Beirne Wealth Consulting Services LLC purchased a new stake in shares of MannKind during the 4th quarter valued at $66,000. Marshall Investment Management LLC bought a new stake in shares of MannKind during the 4th quarter worth $69,000. Proficio Capital Partners LLC purchased a new position in MannKind in the fourth quarter worth $70,000. Finally, Quantinno Capital Management LP bought a new position in MannKind in the third quarter valued at $85,000. Institutional investors own 49.55% of the company’s stock.

MannKind Trading Up 0.2 %

MannKind stock opened at $5.23 on Tuesday. The firm has a market cap of $1.59 billion, a P/E ratio of 74.71 and a beta of 1.27. MannKind Co. has a 1-year low of $3.97 and a 1-year high of $7.63. The firm has a 50-day moving average of $5.56 and a 200-day moving average of $6.23.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. Research analysts forecast that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MNKD. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Wells Fargo & Company began coverage on shares of MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of MannKind in a research note on Thursday, February 27th. Finally, Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MannKind presently has a consensus rating of “Buy” and a consensus price target of $9.21.

MannKind Company Profile

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.