Wealth Enhancement Advisory Services LLC Sells 5,700 Shares of MannKind Co. (NASDAQ:MNKD)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of MannKind Co. (NASDAQ:MNKD) by 30.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,848 shares of the biopharmaceutical company’s stock after selling 5,700 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in MannKind were worth $81,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in MannKind by 401.8% during the third 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 in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of MannKind during the 3rd quarter valued at about $12,252,000. Barclays PLC increased its position in shares of MannKind by 186.0% during the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock valued at $3,271,000 after purchasing an additional 338,121 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of MannKind by 511.6% during the 3rd quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock valued at $558,000 after buying an additional 74,189 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in 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. 49.55% of the stock is owned by institutional investors.

MannKind Price Performance

NASDAQ:MNKD opened at $6.01 on Friday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 85.86 and a beta of 1.29. MannKind Co. has a 52 week low of $3.17 and a 52 week high of $7.63. The company has a fifty day moving average of $6.57 and a 200 day moving average of $6.23.

Insider Activity at MannKind

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the completion of the sale, the insider now directly owns 967,191 shares in the company, valued at $7,099,181.94. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven B. Binder sold 67,536 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. The trade was a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 190,075 shares of company stock worth $1,325,587 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MNKD shares. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Wells Fargo & Company began coverage on shares of MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock. Finally, Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.07.

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.