International Assets Investment Management LLC Sells 75,589 Shares of MannKind Co. (NASDAQ:MNKD)

International Assets Investment Management LLC lessened its position in MannKind Co. (NASDAQ:MNKD) by 85.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,100 shares of the biopharmaceutical company’s stock after selling 75,589 shares during the period. International Assets Investment Management LLC’s holdings in MannKind were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of MannKind by 401.8% during the third quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company’s stock worth $1,060,000 after purchasing an additional 134,937 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in MannKind in the 3rd quarter worth approximately $12,252,000. Barclays PLC grew its position in shares of MannKind by 186.0% in the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock worth $3,271,000 after buying an additional 338,121 shares during the last quarter. Parkman Healthcare Partners LLC grew its position in shares of MannKind by 37.1% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock worth $20,783,000 after buying an additional 894,486 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of MannKind during the third quarter valued at approximately $546,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MNKD. StockNews.com lowered MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Wells Fargo & Company started coverage on shares of MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price for the company. Finally, Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $9.07.

Insider Buying and Selling

In other news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $7,099,181.94. The trade was a 5.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven B. Binder sold 67,539 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.76, for a total transaction of $456,563.64. Following the sale, the director now directly owns 1,075,026 shares in the company, valued at $7,267,175.76. This trade represents a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 190,075 shares of company stock valued at $1,325,587 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

MannKind Price Performance

NASDAQ:MNKD opened at $6.03 on Wednesday. The firm’s 50-day moving average price is $6.68 and its 200-day moving average price is $6.22. The company has a market capitalization of $1.66 billion, a PE ratio of 86.14 and a beta of 1.29. MannKind Co. has a 1-year low of $3.17 and a 1-year high of $7.63.

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.