MannKind Corporation shares had a trading volume of 2,785K on Tuesday. Shares saw a steep decrease in trading volume of 84.44% under the normal average daily volume.
Traders are a little more bearish on MannKind Corporation of late if you consider the uptick in short interest. The firm had a rise in short interest between September 29, 2017 and October 13, 2017 of 11.26%. Short interest increased from 23,671,860 to 26,337,802 over that period. The short-interest ratio decreased to 1.0 and the percentage of shorted shares is 0.26% as of October 13.
Here is a rundown on some insider market activity for MannKind Corporation (NASDAQ:MNKD). Corp VP, CMO Raymond W. Urbanski sold 296 shares at an average price of $1.15 on Thu the 10th. Urbanski now owns $3,363 of stock per an SEC filing yesterday.
The following firms have recently changed their position in MNKD. As of the end of the quarter Hanson Mcclain, Inc. had sold a total of 3,000 shares trimming its position 85.7%. The value in dollars decreased from $2,000 to $0 decreasing 100.0% quarter over quarter. As of quarter end Canada Pension Plan Investment Board had disposed of 110,500 shares trimming its holdings by 55.7%. The value of the investment in MNKD went from $126,000 to $54,000 a change of $72,000 since the last quarter.
Harel Insurance Investments & Financial Services Ltd. divested its ownership by shedding 2,460,000 shares a decrease of 83.4% in the quarter. Harel Insurance Investments & Financial Services Ltd. now holds 490,000 shares worth $725,000. The value of the position overall is down by 61.6%.
On August 11 analysts at Maxim Group started covering MNKD by announcing an initial rating of “Buy”. H.C. Wainwright began coverage of MNKD with a rating of “Buy”.
The company is trading down by 4.08% percent from yesterday’s close. It is trading at $3.29 which is marginally lower than the 50 day moving average which is $3.41 and quite a bit above the 200 day moving average of $1.88. The 50 day moving average moved down $-0.12 and the 200 day average moved up $1.41.
The P/E ratio is currently 2.48 and market capitalization is 344.40M. In the latest earnings report the EPS was $1.33 and is expected to be $-0.91 for the current year with 104,682,000 shares now outstanding. Next quarter’s EPS is forecasted to be $-0.18 with next year’s EPS anticipated to be $-0.76.
MannKind Corporation (MannKind), launched on February 14, 1991, is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. The Business’s product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and also to improve glycemic control..