Beirne Wealth Consulting Services LLC Takes Position in MannKind Co. (NASDAQ:MNKD)

Beirne Wealth Consulting Services LLC purchased a new position in shares of MannKind Co. (NASDAQ:MNKD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,259 shares of the biopharmaceutical company’s stock, valued at approximately $66,000.

A number of other hedge funds have also recently added to or reduced their stakes in MNKD. Mirae Asset Global Investments Co. Ltd. boosted its holdings in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,816 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of MannKind in the third quarter valued at $85,000. Foundations Investment Advisors LLC purchased a new stake in shares of MannKind in the 3rd quarter worth about $93,000. National Bank of Canada FI increased its holdings in MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new position in MannKind during the 3rd quarter valued at about $138,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insider Buying and Selling at MannKind

In related news, Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the transaction, the director now owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. The trade was a 5.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on MNKD shares. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Wells Fargo & Company started coverage on shares of MannKind in a research note on Friday, December 20th. They set an “overweight” rating and a $9.00 price target on the stock. Finally, Wedbush started coverage on shares of MannKind in a research note on Monday, February 10th. They issued an “outperform” rating and a $11.00 target price for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $9.21.

MannKind Price Performance

Shares of MNKD opened at $5.42 on Wednesday. The firm has a market cap of $1.49 billion, a PE ratio of 77.43 and a beta of 1.28. The company’s fifty day moving average is $6.12 and its two-hundred day moving average is $6.27. MannKind Co. has a fifty-two week low of $3.47 and a fifty-two week high of $7.63.

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.