MannKind VP Unloads $128,323 in Stock (MNKD)
MannKind (NASDAQ:MNKD) VP Diane Palumbo sold 18,176 shares of the company’s stock on the open market in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $7.06, for a total value of $128,322.56. Following the sale, the vice president now directly owns 158,858 shares in the company, valued at approximately $1,121,537. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of MannKind (NASDAQ:MNKD) traded up 5.27% on Monday, hitting $7.39. The stock had a trading volume of 12,909,916 shares. MannKind has a 1-year low of $3.80 and a 1-year high of $8.70. The stock’s 50-day moving average is $6.30 and its 200-day moving average is $5.64. The company’s market cap is $2.793 billion. MannKind also was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 65,647,607 shares, a decrease of 3.9% from the April 15th total of 68,329,559 shares. Based on an average trading volume of 4,865,107 shares, the short-interest ratio is currently 13.5 days. Currently, 28.1% of the shares of the company are sold short.
MannKind (NASDAQ:MNKD) last released its earnings data on Monday, May 12th. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.13) by $0.01. During the same quarter last year, the company posted ($0.15) earnings per share. Analysts expect that MannKind will post $-0.36 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of MannKind in a research note on Wednesday, May 14th. They now have a $7.00 price target on the stock. Separately, analysts at Piper Jaffray upgraded shares of MannKind from an “underweight” rating to a “neutral” rating in a research note on Wednesday, May 14th. They now have a $6.50 price target on the stock, up previously from $2.00. They noted that the move was a valuation call. Finally, analysts at MLV & Co
reiterated a “buy” rating on shares of MannKind in a research note on Tuesday, May 13th. They now have a $10.00 price target on the stock, down previously from $11.00. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. MannKind currently has an average rating of “Hold” and an average price target of $7.58.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.