MannKind VP David Thomson Unloads 133,000 Shares (MNKD)
MannKind (NASDAQ:MNKD) VP David Thomson unloaded 133,000 shares of MannKind stock on the open market in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $9.95, for a total value of $1,323,350.00. Following the transaction, the vice president now directly owns 102,286 shares of the company’s stock, valued at approximately $1,017,746. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on MNKD shares. 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 assigned a hold rating and two have given a buy rating to the stock. MannKind currently has an average rating of “Hold” and an average target price of $7.58.
Shares of MannKind (NASDAQ:MNKD) traded down 4.74% during mid-day trading on Thursday, hitting $10.04. The stock had a trading volume of 33,243,148 shares. MannKind has a 52 week low of $3.80 and a 52 week high of $11.11. The stock’s 50-day moving average is $7.23 and its 200-day moving average is $5.99. The company’s market cap is $3.794 billion. MannKind also was the recipient of a significant 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. Currently, 29.2% of the shares of the company are sold short. Based on an average daily trading volume, of 6,058,257 shares, the short-interest ratio is currently 11.2 days.
MannKind (NASDAQ:MNKD) last released its earnings data on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.01. During the same quarter in the prior 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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