Insider Selling: MannKind VP Unloads 30,000 Shares of Stock (MNKD)
MannKind (NASDAQ:MNKD) VP David Thomson sold 30,000 shares of the stock on the open market in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $10.51, for a total transaction of $315,300.00. Following the transaction, the vice president now directly owns 102,286 shares in the company, valued at approximately $1,075,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
MannKind (NASDAQ:MNKD) traded up 9.60% on Monday, hitting $10.96. The stock had a trading volume of 48,803,496 shares. MannKind has a one year low of $3.80 and a one year high of $11.48. The stock’s 50-day moving average is $9.2 and its 200-day moving average is $6.68. The company’s market cap is $4.142 billion. MannKind also was the recipient of some unusual options trading activity on Friday. Stock traders purchased 54,504 call options on the company. This represents an increase of 139% compared to the typical daily volume of 22,847 call options.
MannKind (NASDAQ:MNKD) last posted its quarterly earnings results 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 $-0.37 EPS for the current fiscal year.
MNKD has been the subject of a number of recent research reports. Analysts at Brinson Patrick raised their price target on shares of MannKind from $12.00 to $15.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of MannKind in a research note on Thursday, June 12th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.21.
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.