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MannKind Corporation (MNKD) – Don’t Believe the Hype: Check The Facts

196 institutions hold shares in MannKind Corporation (MNKD), with 13.54M shares held by insiders accounting for 5.48% while institutional investors hold 33.02% of the company’s shares. The shares outstanding are 249.07M, and float is at 233.49M with Short Float at 16.53%. Institutions hold 31.21% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 17.98 million shares valued at $56.26 million. The investor’s holdings represent 7.22% of the MNKD Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 12.29 million shares valued at $38.47 million to account for 4.93% of the shares outstanding. The other top investors are State Street Corporation which holds 8.85 million shares representing 3.55% and valued at over $27.69 million, while FMR, LLC holds 1.50% of the shares totaling 3.73 million with a market value of $11.68 million.

MannKind Corporation (NASDAQ: MNKD) is 54.31% higher on its value in year-to-date trading and has touched a low of $1.14 and a high of $6.25 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MNKD stock was last observed hovering at around $4.68 in the last trading session, with the day’s gains setting it 0.15% off its average median price target of $6.50 for the next 12 months. It is also 39.63% off the consensus price target high of $8.00 offered by 5 analysts, but current levels are 3.4% higher than the price target low of $5.00 for the same period.

Currently trading at $4.83, the stock is 15.19% and 11.78% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.28 million and changing 3.21% at the moment leaves the stock 63.99% off its SMA200. MNKD registered 274.42% gain for a year compared to 6-month gain of 130.00%. The firm has a 50-day simple moving average (SMA 50) of $4.0038 and a 200-day simple moving average (SMA200) of $3.5273.

The stock witnessed a 29.32% loss in the last 1 month and extending the period to 3 months gives it a 28.80%, and is 16.11% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.79% over the week and 6.69% over the month.

MannKind Corporation (MNKD) has around 241 employees, a market worth around $1.24B and $65.10M in sales. Profit margin for the company is -87.90%. Distance from 52-week low is 323.68% and -22.72% from its 52-week high. The company has generated returns on investments over the last 12 months (82.50%).

MannKind Corporation (MNKD) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for MannKind Corporation (MNKD) is a “Buy”. 5 analysts offering their recommendations for the stock have an average rating of 1.40, where 0 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

MannKind Corporation is expected to release its quarterly report on 08/09/2021 and quarterly earnings per share for the current quarter are estimated at -$0.04 with sales reaching $15.66M over the same period.The EPS is expected to grow by 3.10% this year, but quarterly earnings will post 16.90% year-over-year. Quarterly sales are estimated to grow 5.90% in year-over-year returns.

MannKind Corporation (MNKD) Insider Activity

A total of 6 insider transactions have happened at MannKind Corporation (MNKD) in the last six months, with sales accounting for 1 and purchases happening 5 times. The most recent transaction is an insider purchase by Castagna Michael, the company’s Chief Executive Officer. SEC filings show that Castagna Michael bought 3,000 shares of the company’s common stock on Mar 05 at a price of $3.38 per share for a total of $10140.0. Following the purchase, the insider now owns 3000.0 shares.

MannKind Corporation disclosed in a document filed with the SEC on Jan 31 that Castagna Michael (Chief Executive Officer) bought a total of 5,000 shares of the company’s common stock. The trade occurred on Jan 31 and was made at $1.33 per share for $6650.0. Following the transaction, the insider now directly holds 1.12 million shares of the MNKD stock.

Still, SEC filings show that on Jan 31, Tross Stuart A (Chief People & Workpl Officer) acquired 5,000 shares at an average price of $1.33 for $6650.0. The insider now directly holds 481,991 shares of MannKind Corporation (MNKD).

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MannKind Corporation (MNKD): Who are the competitors?

The company’s main competitors (and peers) include Eli Lilly and Company (LLY) that is trading 14.91% up over the past 12 months. Novo Nordisk A/S (NVO) is 14.16% up on the 1-year trading charts. Short interest in the company’s stock has fallen -125.53% from the last report on Mar 30, 2021 to stand at a total of 38.61 million short shares sold with a short interest ratio of 5.19.

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