Wealth Enhancement Advisory Services LLC Lowers Position in MannKind Co. (NASDAQ:MNKD)

Wealth Enhancement Advisory Services LLC decreased its position in MannKind Co. (NASDAQ:MNKD) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,548 shares of the biopharmaceutical company’s stock after selling 1,633 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in MannKind were worth $117,000 as of its most recent SEC filing.

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

MannKind Trading Down 1.9 %

MNKD stock opened at $7.08 on Wednesday. The firm has a 50 day moving average of $6.58 and a 200-day moving average of $5.62. The firm has a market capitalization of $1.95 billion, a P/E ratio of 101.14 and a beta of 1.30. MannKind Co. has a 12 month low of $3.17 and a 12 month high of $7.63.

Analyst Ratings Changes

A number of research analysts have recently commented on MNKD shares. Oppenheimer upped their price target on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Monday. Leerink Partners assumed coverage on shares of MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MannKind currently has an average rating of “Buy” and an average target price of $8.67.

Insider Buying and Selling at MannKind

In other news, EVP Steven B. Binder sold 5,055 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.94, for a total value of $30,026.70. Following the transaction, the executive vice president now owns 1,075,026 shares of the company’s stock, valued at approximately $6,385,654.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Stuart A. Tross sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 1,022,191 shares of the company’s stock, valued at approximately $6,398,915.66. The trade was 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 the SEC website. Also, EVP Steven B. Binder sold 5,055 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $5.94, for a total transaction of $30,026.70. Following the completion of the sale, the executive vice president now directly owns 1,075,026 shares in the company, valued at $6,385,654.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,161 shares of company stock valued at $1,632,795 in the last three months. Company insiders own 3.00% of the company’s stock.

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.