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 $465,323 were sold by Binder Steven B. on Nov 22 ’24. At $6.89 per share, Binder Steven B. sold 67,536 shares. The insider’s holdings dropped to 1,075,026 shares worth approximately $7.25 million following the completion of this transaction.
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Also, STEVEN B BINDER purchased 67,536 shares, netting a total of over 465,397 in proceeds.
Before that, Binder Steven B. had sold 67,539 shares from its account. In a trade valued at $456,564, the Director traded Mannkind Corp shares for $6.76 each. Upon closing the transaction, the insider’s holdings decreased to 67,539 shares, worth approximately $7.25 million.
As published in their initiating research note from Wells Fargo on December 20, 2024, Mannkind Corp [MNKD] has been an Overweight and the price target has been revised to $9. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. Earlier on June 13, 2024, Rodman & Renshaw initiated its rating. Their recommendation was “a Buy” for MNKD stock.
Analyzing MNKD Stock Performance
During the last five days, there has been a surge of approximately 16.86%. Over the course of the year, Mannkind Corp shares have jumped approximately 90.38%. Shares of the company reached a 52-week high of $7.63 on 11/06/24 and a 52-week low of $3.17 on 02/05/24. A 50-day SMA is recorded $6.77, while a 200-day SMA reached $5.58. Nevertheless, trading volume fell to 1.41 million shares from 3.24 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 6.63, which, if violated, would cause prices to drop to 6.53. In the upper region, resistance lies at 6.93. The next price resistance is at 7.13. RSI (Relative Strength Index) is 57.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.33, which suggests the price will decrease in the coming days. Percent R is at 26.19%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
