MannKind Corporation (NASDAQ:MNKD)’s VP offloads 20,000 shares

Posted by George Brook August 29, 2013 0 Comment 5668 views

In a transaction that was dated 26 August, MannKind Corporation (NASDAQ:MNKD)’s vice-president, Juergen Martens off-loaded 20,000 shares of the company in the open market. The shares were sold at an average-price of $5.52 and the total transaction value was $110,400.00. Post completion of this transaction, the VP now directly-owns 136,016 shares in MNKD. This sale was disclosed in an SEC filing.

Analysts’ opinion

A large number of research firms have commented on MannKind stock lately. MLV Capital analysts’ raised their price-target on the MNKD shares from $8.00 to $11.00 on 15 August and have now assigned a “buy” rating on the stock. JMP Securities analysts have downgraded MNKD shares from an “outperform” to “market perform” on 14 August. Zacks analysts’ reiterated their “neutral” rating on MNKD shares on 14 August and have now set a $7.25 price-target on the stock.

Six investment-analysts have rated the MannKind stock with a “hold” rating, 3 have rated it as a “buy” and the average analyst rating on the stock is a “Hold” while the target price is $8.75.

Wednesday’s trading

MannKind Corporation (NASDAQ:MNKD) stock dipped 2.11% in Wednesday’s trading session. The opening price of the shares was $5.90 which touched an intraday high of $5.92 and closed at $5.80. More than 5.52 million shares were traded on Wednesday and the average volume of shares traded over 30 days was 9.39 million. The company has a market cap of $1.75 billion. MNKD has a 52-week low of $1.82 and its 52-week high is $8.70. The 50-day moving-average of the stock is $6.97 and the 200-day moving-average is $5.76.

MannKind is a development stage bio-pharma company. It is involved in discovering, developing, as well as commercializing various therapeutic products that are used in the treatment of diseases such as cancer and diabetes. AFREZZA, its product candidate is an inhalation insulin formulation that is currently in late-stage clinical-0investigation for adult Type 1 or Type 11 diabetes.


About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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