Wealth Enhancement Advisory Services LLC Sells 1,633 Shares of MannKind Co. (NASDAQ:MNKD)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of MannKind Co. (NASDAQ:MNKD) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,548 shares of the biopharmaceutical company’s stock after selling 1,633 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in MannKind were worth $117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MNKD. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,816 shares in the last quarter. Heritage Oak Wealth Advisors LLC acquired a new stake in MannKind during the 3rd quarter worth approximately $176,000. International Assets Investment Management LLC lifted its stake in MannKind by 511.6% in the third 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. Private Advisor Group LLC boosted its holdings in shares of MannKind by 45.7% in the third quarter. Private Advisor Group LLC now owns 30,585 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 9,588 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in shares of MannKind during the third quarter worth $93,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insider Activity

In other news, insider Stuart A. Tross sold 80,000 shares of MannKind stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total transaction of $506,400.00. Following the transaction, the insider now owns 1,047,191 shares in the company, valued at approximately $6,628,719.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Castagna sold 85,106 shares of MannKind stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $6.30, for a total transaction of $536,167.80. Following the completion of the transaction, the chief executive officer now owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stuart A. Tross sold 80,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.33, for a total value of $506,400.00. Following the completion of the transaction, the insider now directly owns 1,047,191 shares in the company, valued at $6,628,719.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,161 shares of company stock valued at $1,632,795 over the last quarter. 3.00% of the stock is owned by company insiders.

MannKind Price Performance

MNKD stock opened at $7.08 on Wednesday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 101.14 and a beta of 1.30. The company has a 50 day simple moving average of $6.58 and a 200 day simple moving average of $5.62. MannKind Co. has a 1 year low of $3.17 and a 1 year high of $7.63.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a research note on Monday. Leerink Partners began coverage on MannKind in a research report on Monday, September 9th. They issued an “outperform” rating and a $8.00 target price on the stock. Oppenheimer upped their price target on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Finally, Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a report on Monday, September 9th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $8.67.

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.