Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mannkind Corp shares valued at $361,928 were sold by Castagna Michael on Dec 15 ’23. At $4.00 per share, Castagna Michael sold 90,482 shares. The insider’s holdings dropped to 2,148,665 shares worth approximately $8.77 million following the completion of this transaction.
Also, Castagna Michael sold 110,000 shares, netting a total of over 440,000 in proceeds. Following the sale of shares at $4.00 each, the insider now holds 2,239,147 shares.
Before that, Castagna Michael had sold 10,000 shares from its account. In a trade valued at $42,500, the Chief Executive Officer traded Mannkind Corp shares for $4.25 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $9.58 million.
As published in their initiating research note from Wedbush on October 10, 2023, Mannkind Corp [MNKD] has been an Outperform and the price target has been revised to $10. Analysts at RBC Capital Mkts started covering the stock with ‘”a Sector perform”‘ outlook in a report released in mid May. As of December 24, 2019, Oppenheimer has initiated its “an Outperform” rating for MNKD. Earlier on October 25, 2019, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for MNKD stock.
Analyzing MNKD Stock Performance
During the last five days, there has been a drop of approximately -5.12%. Over the course of the year, Mannkind Corp shares have jumped approximately 12.09%. Shares of the company reached a 52-week high of $5.40 on 03/08/24 and a 52-week low of $3.17 on 02/05/24. A 50-day SMA is recorded $4.25, while a 200-day SMA reached $4.10. Nevertheless, trading volume fell to 1.29 million shares from 1.32 million shares the previous day.
Support And Resistance Levels for Mannkind Corp (MNKD)
According to the 24-hour chart, there is a support level at 4.01, which, if violated, would cause prices to drop to 3.95. In the upper region, resistance lies at 4.18. The next price resistance is at 4.29. RSI (Relative Strength Index) is 41.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 83.08%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
