GSA Capital Partners LLP Trims Stock Holdings in MannKind Co. (NASDAQ:MNKD)

GSA Capital Partners LLP lowered its stake in MannKind Co. (NASDAQ:MNKD) by 96.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,342 shares of the biopharmaceutical company’s stock after selling 455,700 shares during the quarter. GSA Capital Partners LLP’s holdings in MannKind were worth $97,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MNKD. Meeder Asset Management Inc. purchased a new position in MannKind in the 2nd quarter valued at approximately $55,000. Brookstone Capital Management purchased a new position in MannKind in the second quarter valued at $61,000. Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $62,000 after buying an additional 1,816 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in MannKind during the second quarter worth approximately $67,000. Finally, Foundations Investment Advisors LLC purchased a new position in MannKind in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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 Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Leerink Partners began coverage on MannKind in a research note on Monday, September 9th. They issued an “outperform” rating and a $8.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MannKind has a consensus rating of “Buy” and a consensus price target of $8.67.

MannKind Trading Down 1.8 %

Shares of MNKD stock opened at $6.72 on Tuesday. MannKind Co. has a twelve month low of $3.17 and a twelve month high of $7.63. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 96.00 and a beta of 1.30. The firm has a 50-day moving average price of $6.71 and a 200 day moving average price of $5.78.

Insider Activity at MannKind

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total transaction of $403,700.00. Following the transaction, the insider now owns 967,191 shares of the company’s stock, valued at $7,099,181.94. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven B. Binder sold 5,055 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. This represents a 0.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,236 shares of company stock worth $2,554,681. 3.00% of the stock is currently owned by insiders.

About MannKind

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.