Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MannKind Co. (NASDAQ:MNKD – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 313,409 shares of the biopharmaceutical company’s stock, valued at approximately $1,652,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of MannKind at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of MNKD. Great West Life Assurance Co. Can acquired a new position in shares of MannKind during the third quarter valued at about $38,000. International Assets Investment Management LLC acquired a new position in shares of MannKind during the first quarter valued at about $39,000. Blueshift Asset Management LLC acquired a new position in shares of MannKind during the third quarter valued at about $42,000. US Bancorp DE raised its holdings in shares of MannKind by 53.2% during the first quarter. US Bancorp DE now owns 14,257 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 4,952 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in shares of MannKind during the first quarter valued at about $53,000. Institutional investors own 49.16% of the company’s stock.
Insider Buying and Selling at MannKind
In other MannKind news, CEO Michael Castagna sold 150,000 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $4.69, for a total value of $703,500.00. Following the completion of the sale, the chief executive officer now owns 2,331,735 shares in the company, valued at approximately $10,935,837.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Steven B. Binder sold 47,810 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $4.67, for a total transaction of $223,272.70. Following the completion of the transaction, the chief financial officer now directly owns 838,324 shares of the company’s stock, valued at approximately $3,914,973.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Castagna sold 150,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $4.69, for a total transaction of $703,500.00. Following the transaction, the chief executive officer now directly owns 2,331,735 shares of the company’s stock, valued at $10,935,837.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 398,386 shares of company stock worth $1,845,568. Insiders own 4.00% of the company’s stock.
Analyst Upgrades and Downgrades
MannKind Stock Performance
MNKD opened at $4.54 on Tuesday. MannKind Co. has a fifty-two week low of $2.91 and a fifty-two week high of $5.73. The company’s 50-day moving average is $4.15 and its 200 day moving average is $4.62.
MannKind (NASDAQ:MNKD – Get Rating) last posted its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $40.63 million during the quarter, compared to analyst estimates of $37.40 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The company’s revenue was up 238.8% on a year-over-year basis. As a group, research analysts predict that MannKind Co. will post -0.14 EPS for the current year.
MannKind Company Profile
MannKind Corp. is a biopharmaceutical company, which engages in the development and commercialization of therapeutic products and devices for those with endocrine and orphan lung diseases. The company was founded by Alfred E. Mann on February 14, 1991 and is headquartered in Danbury, CT.
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