Saturday, June 25, 2022

Buying Buzz: MannKind Corporation [MNKD] Director MUNDKUR CHRISTINE purchases 27,675 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MannKind Corporation shares valued at $74,999 were purchased by MUNDKUR CHRISTINE on Feb 28. At $2.71 per share, MUNDKUR CHRISTINE acquired 27,675 shares. The insider’s holdings grew to 254,493 shares worth approximately $1.01 million following the completion of this transaction.

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Also, HOOPER ANTHONY C purchased 40,000 shares, netting a total of over 108,400 in proceeds. Following the buying of shares at $2.71 each, the insider now holds 338,394 shares.

Before that, Galindo Alejandro had added 36,900 shares to its account. In a trade valued at $99,999, the Chief Commercial Officer bought MannKind Corporation shares for $2.71 each. Upon closing the transaction, the insider’s holdings increased to 36,900 shares, worth approximately $2.3 million.

As published in their initiating research note from RBC Capital Mkts on May 14, 2021, MannKind Corporation [MNKD] has been a Sector perform and the price target has been revised to $5. This represents a 20.4% premium over Thursday’s closing price. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in late December. As of October 25, 2019, Cantor Fitzgerald has initiated its “an Overweight” rating for MNKD. Earlier on May 14, 2019, BTIG Research initiated its rating. Their recommendation was “a Buy” for MNKD stock.

Analyzing MNKD’s Price Performance

On Thursday, MannKind Corporation [NASDAQ: MNKD] rose 4.46% to $3.98. The stock’s lowest price that day was $3.75, but it reached a high of $3.98 in the same session. During the last five days, there has been a surge of approximately 9.64%. Over the course of the year, MannKind Corporation shares have dropped approximately -8.92%. Shares of the company reached a 52-week high of $4.86 on 06/08/22 and a 52-week low of $2.49 on 02/28/22. A 50-day SMA is recorded $3.63, while a 200-day SMA reached $4.05. Nevertheless, trading volume fell to 6.08 million shares from 5.54 million shares the previous day.

Support And Resistance Levels for MannKind Corporation (MNKD)

According to the 24-hour chart, there is a support level at 3.83, which, if violated, would cause prices to drop to 3.67. In the upper region, resistance lies at 4.06. The next price resistance is at 4.13. RSI (Relative Strength Index) is 52.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 55.52%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is MannKind Corporation subject to short interest?

Stocks of MannKind Corporation saw a sharp rise in short interest on May 30, 2022 jumping by 2.54 million shares to 26.42 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 23.88 million shares. A jump of 9.61% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.78 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.78.

Which companies own the most shares of MannKind Corporation (MNKD)?

According to BlackRock Fund Advisors filings, the company currently owns 17,852,175 shares, which is about 7.07% of the total MNKD shares outstanding. The investor’s shares have plunged by -254,103 from its previous 13-F filing of 18106278.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $61,463,694. The Vanguard Group, Inc. acquire a 1.26% interest valued at $51.78 million while Avoro Capital Advisor LLC sold a 0 stake. A total of 458,502 shares of MannKind Corporation were sold by Emerald Advisers LLC during the quarter, and 1,157 were bought by Fidelity Management & Research Co. In its current portfolio, Geode Capital Management LLC holds 4,534,505 shares valued at $18.95 million.

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