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Mannkind Corp (MNKD) Stock Could Soon Reward Patient Investors

Mannkind Corp (NASDAQ: MNKD) is 18.41% higher on its value in year-to-date trading and has touched a low of $3.17 and a high of $5.75 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 $4.34 in the last trading session, with the day’s loss setting it -0.03%.

Currently trading at $4.31, the stock is -8.63% and 7.15% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.04 million and changing -0.69% at the moment leaves the stock 5.62% off its SMA200. MNKD registered 8.02% gain for a year compared to 6-month gain of 4.36%. The firm has a 50-day simple moving average (SMA 50) of $5.80 and a 200-day simple moving average (SMA200) of $55.96.

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The stock witnessed a -4.22% loss in the last 1 month and extending the period to 3 months gives it a 18.41%, and is -12.04% down 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 5.29% over the week and 5.52% over the month.

Mannkind Corp (MNKD) has around 414 employees, a market worth around $1.17B and $198.96M in sales. Fwd P/E is 18.75. Profit margin for the company is -6.00%. Distance from 52-week low is 35.96% and -25.04% from its 52-week high. The company has generated returns on investments over the last 12 months (-11.45%).

Mannkind Corp quarterly earnings per share for the current quarter are estimated at $0.03 with sales reaching $60.34M over the same period.The EPS is expected to grow by 385.42% this year, but quarterly earnings will post 27.80% year-over-year.

Mannkind Corp (MNKD) Top Institutional Holders

263 institutions hold shares in Mannkind Corp (MNKD), with institutional investors hold 51.60% of the company’s shares. The shares outstanding are 270.03M, and float is at 260.22M with Short Float at 12.70%. Institutions hold 50.23% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 20.57 million shares valued at $83.72 million. The investor’s holdings represent 7.67% of the MNKD Shares outstanding. As of Jun 29, 2023, the second largest holder is State Street Corporation with 15.31 million shares valued at $62.32 million to account for 5.71% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 14.64 million shares representing 5.46% and valued at over $59.58 million, while Avoro Capital Advisors LLC holds 3.39% of the shares totaling 9.1 million with a market value of $37.04 million.

Mannkind Corp (MNKD) Insider Activity

The most recent transaction is an insider sale by Castagna Michael,the company’sChief Executive Officer. SEC filings show that Castagna Michael sold 90,482 shares of the company’s common stock on Dec 15 ’23 at a price of $4.00 per share for a total of $0.36 million. Following the sale, the insider now owns 2.15 million shares.

Mannkind Corp disclosed in a document filed with the SEC on Dec 14 ’23 that Castagna Michael (Chief Executive Officer) sold a total of 110,000 shares of the company’s common stock. The trade occurred on Dec 14 ’23 and was made at $4.00 per share for $0.44 million. Following the transaction, the insider now directly holds 2.24 million shares of the MNKD stock.

Still, SEC filings show that on Nov 01 ’23, Castagna Michael (Chief Executive Officer) disposed off 10,000 shares at an average price of $4.25 for $42500.0. The insider now directly holds 2,349,147 shares of Mannkind Corp (MNKD).

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