13,506 Shares in MannKind Co. (NASDAQ:MNKD) Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP bought a new stake in MannKind Co. (NASDAQ:MNKD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,506 shares of the biopharmaceutical company’s stock, valued at approximately $85,000.

Several other hedge funds have also made changes to their positions in MNKD. Mirae Asset Global Investments Co. Ltd. raised its position in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,816 shares during the period. Meeder Asset Management Inc. purchased a new stake in MannKind in the second quarter valued at $55,000. Brookstone Capital Management acquired a new position in shares of MannKind in the 2nd quarter valued at $61,000. Renaissance Technologies LLC acquired a new stake in shares of MannKind during the 2nd quarter worth about $67,000. Finally, Foundations Investment Advisors LLC purchased a new stake in MannKind in the 3rd quarter valued at about $93,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Insider Activity at MannKind

In related news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the completion of the transaction, the insider now owns 967,191 shares in the company, valued at $7,099,181.94. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven B. Binder sold 67,536 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. This represents a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 190,075 shares of company stock worth $1,325,587. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MNKD. Leerink Partners began coverage on shares of MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. Oppenheimer increased their price objective on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Leerink Partnrs raised MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Finally, StockNews.com cut MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.67.

MannKind Stock Down 5.4 %

NASDAQ:MNKD opened at $5.93 on Wednesday. MannKind Co. has a 52 week low of $3.17 and a 52 week high of $7.63. The company has a fifty day simple moving average of $6.77 and a two-hundred day simple moving average of $6.00. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 84.71 and a beta of 1.28.

MannKind 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.