Trading Report: Today, Short Interest in MannKind Corp. (MNKD) Expands By 1.7%

Today, Short Interest in MannKind Corp. (MNKD) Expands By 1.7%

MannKind Corp. (NASDAQ:MNKD) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 98,709,420 shares, a growth of 1.7% from the October 31st total of 97,069,044 shares. Based on an average trading volume of 6,320,793 shares, the short-interest ratio is currently 15.6 days. Approximately 30.7% of the company’s stock are short sold.

MannKind Corp. (NASDAQ:MNKD) opened at 0.5532 on Friday. The stock’s market capitalization is $264.64 million. MannKind Corp. has a 52 week low of $0.41 and a 52 week high of $2.24. The firm has a 50 day moving average price of $0.54 and a 200 day moving average price of $0.83.

MannKind Corp. (NASDAQ:MNKD) last issued its earnings results on Wednesday, November 9th. The biopharmaceutical company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.31. The company earned $162.35 million during the quarter, compared to analysts’ expectations of $2 million. Equities research analysts predict that MannKind Corp. will post ($0.01) earnings per share for the current year.

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued an “underweight” rating on shares of MannKind Corp. in a research report on Friday, November 11th. S&P Equity Research dropped their price target on MannKind Corp. from $0.84 to $0.70 in a research note on Wednesday, August 31st. Finally, Piper Jaffray Cos. set a $0.10 price target on MannKind Corp. and gave the stock a “sell” rating in a research note on Sunday, August 21st. Four research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $1.23.

Several large investors have recently modified their holdings of MNKD. BlackRock Fund Advisors increased its stake in shares of MannKind Corp. by 6.1% in the first quarter. BlackRock Fund Advisors now owns 11,641,028 shares of the biopharmaceutical company’s stock valued at $18,742,000 after buying an additional 673,881 shares during the last quarter. California State Teachers Retirement System boosted its position in MannKind Corp. by 30.1% in the second quarter. California State Teachers Retirement System now owns 679,996 shares of the biopharmaceutical company’s stock valued at $789,000 after buying an additional 157,330 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in MannKind Corp. by 11.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,950,000 shares of the biopharmaceutical company’s stock valued at $2,301,000 after buying an additional 200,000 shares during the period. Bank of New York Mellon Corp boosted its position in MannKind Corp. by 22.0% in the second quarter. Bank of New York Mellon Corp now owns 1,372,029 shares of the biopharmaceutical company’s stock valued at $1,592,000 after buying an additional 247,858 shares during the period. Finally, Swiss National Bank boosted its position in MannKind Corp. by 6.4% in the second quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock valued at $537,000 after buying an additional 28,000 shares during the period. 18.71% of the stock is owned by institutional investors.

About MannKind Corp.

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