Steward Partners Investment Advisory LLC Sells 14,804 Shares of MannKind Co. (NASDAQ:MNKD)

Steward Partners Investment Advisory LLC lessened its stake in shares of MannKind Co. (NASDAQ:MNKD) by 54.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,627 shares of the biopharmaceutical company’s stock after selling 14,804 shares during the period. Steward Partners Investment Advisory LLC’s holdings in MannKind were worth $81,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNKD. Principal Financial Group Inc. increased 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 buying an additional 134,937 shares in the last quarter. Victory Capital Management Inc. lifted its position in MannKind by 40.6% during the third quarter. Victory Capital Management Inc. now owns 47,830 shares of the biopharmaceutical company’s stock valued at $301,000 after purchasing an additional 13,823 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in MannKind by 15.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company’s stock valued at $11,859,000 after acquiring an additional 251,587 shares during the period. Intech Investment Management LLC bought a new stake in MannKind during the third quarter valued at about $395,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in MannKind by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,224,829 shares of the biopharmaceutical company’s stock valued at $13,994,000 after acquiring an additional 42,041 shares during the period. Institutional investors own 49.55% of the company’s stock.

MannKind Price Performance

Shares of NASDAQ:MNKD opened at $5.24 on Tuesday. The firm has a market capitalization of $1.59 billion, a PE ratio of 74.86 and a beta of 1.27. The business has a 50 day simple moving average of $5.65 and a two-hundred day simple moving average of $6.26. MannKind Co. has a 1 year low of $3.97 and a 1 year high of $7.63.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $76.78 million during the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Equities research analysts expect that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MNKD shares. Wells Fargo & Company started coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock. StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Finally, Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $7.00 to $10.00 in a research note on Thursday, December 19th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $9.21.

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.