Insider Selling: Juergen Martens Unloads 50,000 Shares of MannKind Corp. Stock (MNKD)
MannKind Corp. (NASDAQ:MNKD) VP Juergen Martens sold 50,000 shares of the stock on the open market in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $5.56, for a total transaction of $278,000.00. Following the completion of the sale, the vice president now directly owns 139,450 shares in the company, valued at approximately $775,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
MannKind Corp. (NASDAQ:MNKD) traded up 4.02% on Tuesday, hitting $5.44. 6,251,632 shares of the company’s stock traded hands. MannKind Corp. has a 52-week low of $2.34 and a 52-week high of $8.70. The stock’s 50-day moving average is $5.43 and its 200-day moving average is $5.76. The company’s market cap is $1.637 billion.
MannKind Corp. (NASDAQ:MNKD) last announced its earnings results on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.14) by $0.03. During the same quarter last year, the company posted ($0.22) earnings per share. MannKind Corp.’s revenue was down 100.0% compared to the same quarter last year. Analysts expect that MannKind Corp. will post $-0.62 EPS for the current fiscal year.
A number of research firms have recently commented on MNKD. Analysts at Zacks reiterated a “neutral” rating on shares of MannKind Corp. in a research note to investors on Monday, December 30th. They now have a $5.50 price target on the stock. Separately, analysts at Piper Jaffray initiated coverage on shares of MannKind Corp. in a research note to investors on Tuesday, November 26th. They set a “neutral” rating and a $5.00 price target on the stock. Finally, analysts at MLV Capital cut their price target on shares of MannKind Corp. from $11.00 to $10.00 in a research note to investors on Wednesday, November 6th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.38.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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