Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mannkind Corp shares valued at $120,936 were sold by Binder Steven B. on May 21 ’24. At $4.66 per share, Binder Steven B. sold 25,952 shares. The insider’s holdings dropped to 1,114,553 shares worth approximately $5.42 million following the completion of this transaction.
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Also, Thomson David sold 23,537 shares, netting a total of over 109,682 in proceeds. Following the sale of shares at $4.66 each, the insider now holds 873,616 shares.
Before that, Binder Steven B. had sold 3,618 shares from its account. In a trade valued at $15,594, the EVP Special Projects traded Mannkind Corp shares for $4.31 each. Upon closing the transaction, the insider’s holdings decreased to 3,618 shares, worth approximately $4.11 million.
As published in their initiating research note from Rodman & Renshaw on June 13, 2024, Mannkind Corp [MNKD] has been a Buy and the price target has been revised to $8. Analysts at Wedbush started covering the stock with ‘”an Outperform”‘ outlook in a report released in early October. As of May 14, 2021, RBC Capital Mkts has initiated its “Sector perform” rating for MNKD. Earlier on December 24, 2019, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for MNKD stock.
Analyzing MNKD Stock Performance
During the last five days, there has been a surge of approximately 2.75%. Over the course of the year, Mannkind Corp shares have jumped approximately 33.52%. 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 $4.47, while a 200-day SMA reached $4.08. Nevertheless, trading volume fell to 2.19 million shares from 1.92 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 4.75, which, if violated, would cause prices to drop to 4.64. In the upper region, resistance lies at 4.97. The next price resistance is at 5.09. RSI (Relative Strength Index) is 57.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 35.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
