Heritage Oak Wealth Advisors LLC Takes Position in MannKind Co. (NASDAQ:MNKD)

Heritage Oak Wealth Advisors LLC bought a new position in MannKind Co. (NASDAQ:MNKD) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 28,000 shares of the biopharmaceutical company’s stock, valued at approximately $176,000.

Several other institutional investors also recently modified their holdings of MNKD. Hennion & Walsh Asset Management Inc. grew its position in MannKind by 71.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 235,886 shares of the biopharmaceutical company’s stock worth $1,069,000 after acquiring an additional 98,282 shares in the last quarter. TSP Capital Management Group LLC bought a new position in shares of MannKind during the 1st quarter valued at about $3,661,000. Mission Wealth Management LP increased its position in shares of MannKind by 18.2% during the 1st quarter. Mission Wealth Management LP now owns 26,650 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 4,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MannKind by 5.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 186,532 shares of the biopharmaceutical company’s stock valued at $845,000 after buying an additional 9,998 shares in the last quarter. Finally, Hunter Associates Investment Management LLC lifted its position in MannKind by 16.4% in the 1st quarter. Hunter Associates Investment Management LLC now owns 56,870 shares of the biopharmaceutical company’s stock worth $259,000 after buying an additional 8,000 shares during the last quarter. 49.55% of the stock is currently owned by institutional investors.

Insider Transactions at MannKind

In related news, insider Stuart A. Tross sold 25,000 shares of MannKind stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total transaction of $156,500.00. Following the completion of the transaction, the insider now directly owns 1,022,191 shares of the company’s stock, valued at $6,398,915.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other MannKind news, insider Stuart A. Tross sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total value of $156,500.00. Following the sale, the insider now owns 1,022,191 shares in the company, valued at approximately $6,398,915.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Castagna sold 85,106 shares of MannKind stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.30, for a total transaction of $536,167.80. Following the transaction, the chief executive officer now owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,161 shares of company stock valued at $1,229,095 in the last three months. 3.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MNKD. Oppenheimer lifted their price target on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Leerink Partners initiated coverage on MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 target price on the stock. Finally, Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a report on Monday, September 9th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $8.67.

MannKind Stock Performance

MannKind stock opened at $6.54 on Friday. MannKind Co. has a fifty-two week low of $3.17 and a fifty-two week high of $6.92. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 163.54 and a beta of 1.31. The stock’s 50 day simple moving average is $6.23 and its two-hundred day simple moving average is $5.36.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $72.39 million for the quarter, compared to analysts’ expectations of $64.81 million. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The firm’s revenue for the quarter was up 48.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share. On average, analysts predict that MannKind Co. will post 0.11 earnings per share for the current year.

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.