International Assets Investment Management LLC Has $86,000 Position in MannKind Co. (NASDAQ:MNKD)

International Assets Investment Management LLC cut its stake in shares of MannKind Co. (NASDAQ:MNKD) by 85.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,100 shares of the biopharmaceutical company’s stock after selling 75,589 shares during the quarter. International Assets Investment Management LLC’s holdings in MannKind were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in MannKind by 6.0% in the second quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock valued at $357,000 after purchasing an additional 3,861 shares during the period. Rhumbline Advisers increased its stake in shares of 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. Dimensional Fund Advisors LP bought a new position in shares of MannKind during the second quarter worth about $1,524,000. Renaissance Technologies LLC acquired a new position in shares of MannKind in the second quarter worth approximately $67,000. Finally, AQR Capital Management LLC boosted its holdings in MannKind by 8.1% in the second quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock valued at $223,000 after acquiring an additional 3,214 shares during the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Trading Down 1.6 %

MNKD opened at $6.03 on Wednesday. The stock has a market capitalization of $1.66 billion, a P/E ratio of 86.14 and a beta of 1.29. The stock has a 50-day moving average price of $6.68 and a 200-day moving average price of $6.22. MannKind Co. has a 12-month low of $3.17 and a 12-month high of $7.63.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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