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Keeping an Eye on Mannkind Corp (MNKD) After Insider Trading Activity

Mannkind Corp’s filing revealed that its Chief Executive Officer Castagna Michael unloaded Company’s shares for reported $0.36 million on Dec 15 ’23. In the deal valued at $4.00 per share,90,482 shares were sold. As a result of this transaction, Castagna Michael now holds 2,148,665 shares worth roughly $9.48 million.

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Then, Castagna Michael sold 110,000 shares, generating $440,000 in total proceeds. Upon selling the shares at $4.00, the Chief Executive Officer now owns 2,239,147 shares.

Before that, Castagna Michael sold 10,000 shares. Mannkind Corp shares valued at $42,500 were divested by the Chief Executive Officer at a price of $4.25 per share. As a result of the transaction, Castagna Michael now holds 2,349,147 shares, worth roughly $10.36 million.

Wedbush initiated its Mannkind Corp [MNKD] rating to an Outperform in a research note published on October 10, 2023; the price target was $10. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who began to cover the stock in mid May with a ‘”a Sector perform”‘ rating. Oppenheimer began covering MNKD with “an Outperform” recommendation on December 24, 2019. Cantor Fitzgerald started covering the stock on October 25, 2019. It rated MNKD as “an Overweight”.

Price Performance Review of MNKD

On Monday, Mannkind Corp [NASDAQ:MNKD] saw its stock jump 2.08% to $4.41. Over the last five days, the stock has gained 0.23%. Mannkind Corp shares have risen nearly 21.15% since the year began. Nevertheless, the stocks have risen 4.01% over the past one year. While a 52-week high of $5.75 was reached on 03/08/24, a 52-week low of $3.17 was recorded on 02/05/24. SMA at 50 days reached $4.45, while 200 days put it at $4.10. A total of 1.81 million shares were traded, compared to the trading of 1.9 million shares in the previous session.

Levels Of Support And Resistance For MNKD Stock

The 24-hour chart illustrates a support level at 4.32, which if violated will result in even more drops to 4.22. On the upside, there is a resistance level at 4.47. A further resistance level may holdings at 4.52. The Relative Strength Index (RSI) on the 14-day chart is 54.68, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.82%. Stochastics %K at 57.42% indicates the stock is a holding.

The most recent change occurred on May 14, 2019 when BTIG Research began covering the stock and recommended ‘”a Buy”‘ rating along with a $3 price target.

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