Charles Schwab Investment Management Inc. Purchases 42,041 Shares of MannKind Co. (NASDAQ:MNKD)

Charles Schwab Investment Management Inc. grew its holdings in shares of MannKind Co. (NASDAQ:MNKD) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,224,829 shares of the biopharmaceutical company’s stock after buying an additional 42,041 shares during the period. Charles Schwab Investment Management Inc. owned 0.81% of MannKind worth $13,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intech Investment Management LLC purchased a new position in MannKind during the third quarter valued at $395,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of MannKind by 15.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company’s stock worth $11,859,000 after purchasing an additional 251,587 shares during the last quarter. Victory Capital Management Inc. boosted its stake in MannKind by 40.6% in the 3rd quarter. Victory Capital Management Inc. now owns 47,830 shares of the biopharmaceutical company’s stock worth $301,000 after purchasing an additional 13,823 shares in the last quarter. Principal Financial Group Inc. grew its position in MannKind by 401.8% during the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company’s stock valued at $1,060,000 after purchasing an additional 134,937 shares during the last quarter. Finally, Cannon Global Investment Management LLC bought a new stake in MannKind during the 3rd quarter valued at about $175,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research report on Saturday. Leerink Partners initiated coverage on MannKind in a research note on Monday, September 9th. They issued an “outperform” rating and a $8.00 price target for the company. Leerink Partnrs raised MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Oppenheimer lifted their price objective on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. One 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. Based on data from MarketBeat, MannKind presently has an average rating of “Buy” and an average target price of $8.67.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $6.80 on Monday. The business has a fifty day moving average price of $6.75 and a 200 day moving average price of $5.92. MannKind Co. has a 1-year low of $3.17 and a 1-year high of $7.63. The stock has a market capitalization of $1.88 billion, a P/E ratio of 97.14 and a beta of 1.28.

Insider Activity at MannKind

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 967,191 shares of the company’s stock, valued at approximately $7,099,181.94. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $6.89, for a total value of $465,323.04. Following the transaction, the director now owns 1,075,026 shares of the company’s stock, valued at $7,406,929.14. The trade was a 5.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 190,075 shares of company stock valued at $1,325,587 in the last ninety days. Company insiders own 3.00% of the company’s stock.

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.