MannKind Short Interest Up 3.6% in May (MNKD)
MannKind (NASDAQ:MNKD) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 68,035,239 shares, an increase of 3.6% from the April 30th total of 65,647,607 shares, Stock Ratings Network.com reports. Based on an average daily trading volume, of 6,058,257 shares, the short-interest ratio is currently 11.2 days. Currently, 29.2% of the shares of the company are sold short.
In other MannKind news, VP Juergen Martens sold 25,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $7.65, for a total value of $191,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on MNKD. 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 analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.58.
Shares of MannKind (NASDAQ:MNKD) opened at 8.90 on Monday. MannKind has a one year low of $3.80 and a one year high of $9.46. The stock’s 50-day moving average is $6.83 and its 200-day moving average is $5.84. The company’s market cap is $3.364 billion.
MannKind (NASDAQ:MNKD) last issued its quarterly 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 $-0.45 EPS for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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