CVI Holdings LLC acquired a new stake in shares of MannKind Co. (NASDAQ:MNKD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,716,080 shares of the biopharmaceutical company’s stock, valued at approximately $11,359,000. MannKind accounts for about 25.3% of CVI Holdings LLC’s portfolio, making the stock its largest holding. CVI Holdings LLC owned about 6.71% of MannKind as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of MNKD. Bank of New York Mellon Corp boosted its holdings in MannKind by 9.0% in the 4th quarter. Bank of New York Mellon Corp now owns 433,294 shares of the biopharmaceutical company’s stock worth $459,000 after buying an additional 35,721 shares during the period. Dupont Capital Management Corp boosted its holdings in MannKind by 11.9% in the 4th quarter. Dupont Capital Management Corp now owns 339,203 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 36,203 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in MannKind by 196.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 55,407 shares of the biopharmaceutical company’s stock worth $59,000 after buying an additional 36,694 shares during the period. CAPROCK Group Inc. bought a new position in MannKind in the 4th quarter worth $42,000. Finally, Virtu Financial LLC bought a new position in MannKind in the 4th quarter worth $50,000. 33.37% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on MNKD. BidaskClub raised shares of MannKind from a “hold” rating to a “buy” rating in a report on Thursday. Leerink Swann began coverage on shares of MannKind in a report on Monday, March 4th. They issued an “outperform” rating and a $3.00 target price for the company. Svb Leerink began coverage on shares of MannKind in a report on Monday, March 4th. They issued an “outperform” rating and a $3.00 target price for the company. Finally, ValuEngine raised shares of MannKind from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. MannKind has a consensus rating of “Hold” and an average target price of $3.06.
Shares of MNKD stock opened at $2.20 on Friday. The firm has a market capitalization of $419.65 million, a price-to-earnings ratio of -3.73 and a beta of 2.68. MannKind Co. has a 52 week low of $0.94 and a 52 week high of $3.04.
MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.28). During the same period last year, the firm posted ($0.28) EPS. As a group, equities analysts forecast that MannKind Co. will post -0.32 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “10,716,080 Shares in MannKind Co. (MNKD) Purchased by CVI Holdings LLC” was published by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://www.americanbankingnews.com/2019/03/17/10716080-shares-in-mannkind-co-mnkd-purchased-by-cvi-holdings-llc.html.
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.
See Also: What Are Cryptocurrencies?
Receive News & Ratings for MannKind Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MannKind and related companies with MarketBeat.com's FREE daily email newsletter.