BlackRock Fund Advisors has recently announced that it has increased stake in Mannkind Corp (NASDAQ:MNKD) by 0.33%. After grabbing 18.44 million shares, the institutional investor is now in possession of 60594.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 6.84% having worth around $66.75 million. Moreover, The Vanguard Group, Inc. increased its share by 24088.0 to have a control over 14.0 million shares. And Nitorum Capital LP raised its holdings to 5.63 million shares by acquiring 10.47 million shares or 3.88% of the stake.
Mannkind Corp (MNKD) concluded trading on December 20, 2023 at a closing price of $3.34, with 9.15 million shares of worth about $30.56 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.86% during that period and On Wednesday the price saw a loss of about -14.71%. Currently the company’s common shares owned by public are about 263.79M shares, out of which, 260.33M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 50 times over the past 12 months. They bought 3,369,004 shares in 15 of the transactions. In 35 selling transactions, insiders dumped 2,349,053 shares.
Vanguard Total Stock Market ETF, SPDR S&P Biotech ETF, and Fidelity Select Port. – Biotechno are the top 3 mutual funds which are holding stakes in Mannkind Corp Vanguard Total Stock Market ETF is currently holding 7.95 million shares of worth totaling $28.78 million. The company recently came buying 0.19 million shares which brought its stake up to 2.95% of the company’s outstanding shares. SPDR S&P Biotech ETF bought 35055.0 shares, after which its hold over company’s outstanding shares expand to 2.79%, leaving 7.52 million shares with the mutual fund that have a worth of about $27.23 million. Fidelity Select Port. – Biotechno, after buying 6.45 million shares, have now control over 2.39% of the stake in the company. It holds 0.0 shares of worth $23.35 million.
However, the stock later moved at a day high price of 3.9950, or with a loss of -14.71%. Stock saw a price change of -14.05% in past 5 days and over the past one month there was a price change of -11.30%. Year-to-date (YTD), MNKD shares are showing a performance of -36.72% which decreased to -31.94% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.38 but also hit the highest price of $5.75 during that period. The average intraday trading volume for Mannkind Corp shares is 2.42 million. The stock is currently trading -9.52% below its 20-day simple moving average (SMA20), while that difference is down -13.07% for SMA50 and it goes to -20.34% lower than SMA200.
BlackRock Fund Advisors acquired 18.44 million shares of Mannkind Corp having value of about $66.75 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 60594.0 shares in the company valued at close to $202383.96, or have control over 0.33% stake in the company. Mannkind Corp (NASDAQ: MNKD) currently have 263.79M outstanding shares and institutions hold larger chunk of about 51.27% of that. Holding of mutual funds in the company is about 27.52% while other institutional holders and individual stake holders have control over 5.18% and 23.79% of the stake respectively.
The stock has a current market capitalization of $899.02M and its 3Y-monthly beta is at 1.32. It has posted earnings per share of -$0.12 in the same period. It has Quick Ratio of 2.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MNKD, volatility over the week remained 7.73% while standing at 5.14% over the month.
Analysts are in expectations that Mannkind Corp (MNKD) stock would likely to be making an EPS of $0.01 in the current quarter, while forecast for next quarter EPS is -$0.01 and it is $0.11 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.02 which is $0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 87.25% while it is estimated to increase by 353.85% in next year. EPS is likely to grow at an annualized rate of 35.60% for next 5-years, compared to annual growth of 21.35% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wedbush on October 10, 2023 offering an Outperform rating for the stock and assigned a target price of $10 to it.
