AJOVista LLC Makes New Investment in MannKind Co. (NASDAQ:MNKD)

AJOVista LLC acquired a new position in shares of MannKind Co. (NASDAQ:MNKD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,563 shares of the biopharmaceutical company’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNKD. Qube Research & Technologies Ltd lifted its stake in shares of MannKind by 41.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 559,769 shares of the biopharmaceutical company’s stock valued at $2,312,000 after purchasing an additional 165,039 shares during the last quarter. GSA Capital Partners LLP acquired a new position in MannKind during the 3rd quarter worth about $673,000. Invesco Ltd. lifted its stake in MannKind by 1.6% during the 3rd quarter. Invesco Ltd. now owns 1,621,765 shares of the biopharmaceutical company’s stock worth $6,698,000 after acquiring an additional 25,319 shares in the last quarter. Jump Financial LLC lifted its stake in MannKind by 730.2% during the 3rd quarter. Jump Financial LLC now owns 138,810 shares of the biopharmaceutical company’s stock worth $573,000 after acquiring an additional 122,090 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in MannKind by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,036,411 shares of the biopharmaceutical company’s stock worth $8,410,000 after acquiring an additional 81,742 shares in the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Performance

MannKind stock traded up $0.01 during mid-day trading on Friday, reaching $4.39. 1,836,337 shares of the company were exchanged, compared to its average volume of 1,946,563. MannKind Co. has a twelve month low of $3.17 and a twelve month high of $5.75. The firm’s 50-day simple moving average is $4.42 and its two-hundred day simple moving average is $3.92. The firm has a market cap of $1.19 billion, a PE ratio of -87.80 and a beta of 1.34.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $58.47 million for the quarter, compared to analyst estimates of $52.36 million. As a group, equities research analysts anticipate that MannKind Co. will post 0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $10.00 target price on shares of MannKind in a research note on Wednesday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.50 price objective on shares of MannKind in a report on Friday, March 15th.

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.