Mirae Asset Global Investments Co. Ltd. Reduces Stake in MannKind Co. (NASDAQ:MNKD)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in MannKind Co. (NASDAQ:MNKDGet Rating) by 7.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 44,322 shares of the biopharmaceutical company’s stock after selling 3,506 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MannKind were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Emerald Advisers LLC increased its holdings in shares of MannKind by 8.8% in the 1st quarter. Emerald Advisers LLC now owns 5,675,539 shares of the biopharmaceutical company’s stock valued at $20,886,000 after acquiring an additional 458,502 shares during the last quarter. Northern Trust Corp increased its holdings in shares of MannKind by 2.8% in the 4th quarter. Northern Trust Corp now owns 3,203,966 shares of the biopharmaceutical company’s stock valued at $14,002,000 after acquiring an additional 85,814 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of MannKind by 32.0% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,369,904 shares of the biopharmaceutical company’s stock valued at $4,877,000 after acquiring an additional 331,978 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of MannKind by 14.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,346,400 shares of the biopharmaceutical company’s stock valued at $5,884,000 after acquiring an additional 171,000 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of MannKind by 154.3% in the 4th quarter. Bank of America Corp DE now owns 1,055,882 shares of the biopharmaceutical company’s stock valued at $4,614,000 after acquiring an additional 640,599 shares during the last quarter. Hedge funds and other institutional investors own 43.57% of the company’s stock.

Insider Buying and Selling

In related news, EVP David Thomson sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $3.67, for a total transaction of $25,690.00. Following the transaction, the executive vice president now owns 726,035 shares in the company, valued at approximately $2,664,548.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 18,100 shares of company stock worth $53,033 in the last quarter. 2.30% of the stock is owned by insiders.

MannKind Stock Performance

MNKD opened at $3.61 on Tuesday. MannKind Co. has a one year low of $2.49 and a one year high of $5.44. The company has a market cap of $911.76 million, a P/E ratio of -10.62 and a beta of 1.75. The business’s 50-day simple moving average is $3.90 and its 200-day simple moving average is $3.70.

MannKind (NASDAQ:MNKDGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $18.90 million during the quarter, compared to analysts’ expectations of $15.62 million. The firm’s revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) EPS. As a group, analysts predict that MannKind Co. will post -0.38 earnings per share for the current fiscal year.

MannKind Company Profile

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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. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism.

Further Reading

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