Geode Capital Management LLC Has $39.88 Million Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Geode Capital Management LLC increased its stake in MannKind Co. (NASDAQ:MNKD) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,338,928 shares of the biopharmaceutical company’s stock after acquiring an additional 24,031 shares during the quarter. Geode Capital Management LLC owned about 2.30% of MannKind worth $39,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNKD. Bank of New York Mellon Corp raised its holdings in MannKind by 14.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock worth $4,778,000 after purchasing an additional 115,390 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in MannKind by 6.0% during the second quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock worth $357,000 after buying an additional 3,861 shares during the last quarter. Rhumbline Advisers lifted its holdings in MannKind by 5.2% in the second quarter. Rhumbline Advisers now owns 397,194 shares of the biopharmaceutical company’s stock valued at $2,073,000 after buying an additional 19,675 shares during the period. Meeder Asset Management Inc. bought a new stake in MannKind during the second quarter valued at $55,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of MannKind in the 2nd quarter worth about $1,524,000. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Price Performance

MNKD opened at $6.74 on Wednesday. MannKind Co. has a fifty-two week low of $3.17 and a fifty-two week high of $7.63. The firm has a market capitalization of $1.86 billion, a PE ratio of 96.29 and a beta of 1.28. The company’s 50-day moving average is $6.77 and its 200 day moving average is $6.07.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Oppenheimer upped their target price on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Leerink Partners began coverage on shares of MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of MannKind in a research note on Friday, December 20th. They set an “overweight” rating and a $9.00 target price on the stock. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MannKind has a consensus rating of “Buy” and a consensus target price of $8.88.

Insider Transactions at MannKind

In other news, insider Stuart A. Tross sold 55,000 shares of the 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 owns 967,191 shares in the company, valued at $7,099,181.94. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven B. Binder sold 67,539 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $6.76, for a total transaction of $456,563.64. Following the transaction, the director now owns 1,075,026 shares in the company, valued at approximately $7,267,175.76. This trade represents a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 190,075 shares of company stock valued at $1,325,587 over the last ninety days. 3.00% of the stock is currently owned by insiders.

MannKind Company 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.