The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Mannkind Corp shares valued at $16,817 were sold by Binder Steven B. on Jul 16 ’24. At $5.93 per share, Binder Steven B. sold 2,836 shares. The insider’s holdings dropped to 1,100,860 shares worth approximately $5.71 million following the completion of this transaction.
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Also, Thomson David sold 3,115 shares, netting a total of over 18,472 in proceeds. Following the sale of shares at $5.93 each, the insider now holds 857,885 shares.
Before that, Thomson David had sold 23,537 shares from its account. In a trade valued at $109,682, the EVP Genl Counsel & Secretary traded Mannkind Corp shares for $4.66 each. Upon closing the transaction, the insider’s holdings decreased to 23,537 shares, worth approximately $4.53 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 3.59%. Over the course of the year, Mannkind Corp shares have jumped approximately 42.58%. Shares of the company reached a 52-week high of $6.04 on 07/17/24 and a 52-week low of $3.17 on 02/05/24. A 50-day SMA is recorded $5.27, while a 200-day SMA reached $4.32. Nevertheless, trading volume fell to 2.02 million shares from 2.35 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 5.03, which, if violated, would cause prices to drop to 4.86. In the upper region, resistance lies at 5.29. The next price resistance is at 5.38. RSI (Relative Strength Index) is 44.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.23, which suggests the price will decrease in the coming days. Percent R is at 75.38%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
