180 Wealth Advisors LLC Grows Holdings in MannKind Corporation $MNKD

180 Wealth Advisors LLC lifted its stake in MannKind Corporation (NASDAQ:MNKD) by 45.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,291,703 shares of the biopharmaceutical company’s stock after acquiring an additional 1,332,759 shares during the quarter. MannKind accounts for 1.2% of 180 Wealth Advisors LLC’s investment portfolio, making the stock its 15th largest position. 180 Wealth Advisors LLC owned 1.39% of MannKind worth $10,515,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in MNKD. Caitong International Asset Management Co. Ltd boosted its holdings in MannKind by 108.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 2,927 shares during the period. International Assets Investment Management LLC purchased a new position in shares of MannKind in the fourth quarter valued at approximately $45,000. Huntington National Bank grew its holdings in shares of MannKind by 420.0% in the fourth quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 8,400 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in MannKind during the 4th quarter worth approximately $59,000. Finally, Laurel Wealth Advisors LLC purchased a new position in MannKind in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Performance

NASDAQ MNKD traded down $0.05 during trading hours on Friday, hitting $4.09. The company had a trading volume of 4,244,655 shares, compared to its average volume of 4,965,138. The business has a 50 day moving average of $3.67 and a 200-day moving average of $4.02. The company has a market cap of $1.26 billion, a PE ratio of -58.42 and a beta of 1.09. MannKind Corporation has a 1-year low of $2.23 and a 1-year high of $6.51.

MannKind (NASDAQ:MNKD) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $90.17 million for the quarter, compared to analyst estimates of $105.38 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. Sell-side analysts expect that MannKind Corporation will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MannKind news, Director Steven B. Binder sold 16,940 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total value of $55,732.60. Following the completion of the sale, the director owned 808,008 shares in the company, valued at approximately $2,658,346.32. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MNKD. HC Wainwright increased their price objective on MannKind from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Mizuho reduced their target price on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada boosted their price target on shares of MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Zacks Research lowered shares of MannKind from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company set a $11.00 target price on shares of MannKind and gave the stock an “overweight” rating in a research note on Monday, June 1st. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.97.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).