ExodusPoint Capital Management LP Has $2.86 Million Stake in MannKind Co. (NASDAQ:MNKD)

ExodusPoint Capital Management LP lifted its stake in shares of MannKind Co. (NASDAQ:MNKD) by 421.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 444,599 shares of the biopharmaceutical company’s stock after acquiring an additional 359,400 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.16% of MannKind worth $2,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock worth $31,427,000 after buying an additional 3,587,484 shares in the last quarter. Two Sigma Advisers LP boosted its stake in MannKind by 60.7% during the third quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock worth $16,658,000 after acquiring an additional 1,000,600 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in MannKind in the fourth quarter worth $4,209,000. Vanguard Group Inc. grew its holdings in MannKind by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company’s stock worth $103,257,000 after purchasing an additional 420,334 shares during the period. Finally, Barclays PLC increased its stake in MannKind by 186.0% in the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock valued at $3,271,000 after purchasing an additional 338,121 shares in the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MNKD shares. Wells Fargo & Company started coverage on MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $9.21.

MannKind Stock Down 1.1 %

Shares of NASDAQ:MNKD opened at $4.69 on Tuesday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 67.00 and a beta of 1.22. The business’s 50 day moving average is $5.35 and its 200 day moving average is $6.14. MannKind Co. has a 12-month low of $3.97 and a 12-month high of $7.63.

MannKind (NASDAQ:MNKD) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. As a group, equities research analysts expect that MannKind Co. will post 0.1 earnings per share for the current year.

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.