Mannkind Corp (NASDAQ: MNKD) stock fell -1.05% on Monday to $3.76 against a previous-day closing price of $3.80. With 1.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.51 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.8600 whereas the lowest price it dropped to was $3.7150. The 52-week range on MNKD shows that it touched its highest point at $5.75 and its lowest point at $3.38 during that stretch. It currently has a 1-year price target of $6.92. Beta for the stock currently stands at 1.54.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MNKD was up-trending over the past week, with a rise of 6.21%, but this was down by -10.69% over a month. Three-month performance dropped to -17.18% while six-month performance fell -21.50%. The stock lost -10.90% in the past year, while it has lost -28.65% so far this year. A look at the trailing 12-month EPS for MNKD yields -0.12 with Next year EPS estimates of 0.11. For the next quarter, that number is 0.01. This implies an EPS growth rate of 87.25% for this year and 353.85% for next year. EPS is expected to grow by 35.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 21.35%.
Float and Shares Shorts:
At present, 263.79 million MNKD shares are outstanding with a float of 260.04 million shares on hand for trading. On Oct 30, 2023, short shares totaled 39.69 million, which was 14.72% higher than short shares on Sep 28, 2023. In addition to MNKD as the firm’s MannKind Corporation, MNMD serves as its Mind Medicine (MindMed) Inc..
Through their ownership of 53.89% of MNKD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.29% of MNKD, in contrast to 28.17% held by mutual funds. Shares owned by individuals account for 23.35%. As the largest shareholder in MNKD with 6.87% of the stake, BlackRock Fund Advisors holds 18,437,867 shares worth 18,437,867. A second-largest stockholder of MNKD, The Vanguard Group, Inc., holds 13,997,625 shares, controlling over 5.22% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in MNKD, holding 12,216,601 shares or 4.55% stake. With a 2.96% stake in MNKD, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,950,077 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 2.76% of MNKD stock, is the second-largest Mutual Fund holder. It holds 7,416,011 shares valued at 31.81 million. Fidelity Select Port. – Biotechno holds 2.40% of the stake in MNKD, owning 6,449,301 shares worth 27.67 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MNKD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MNKD analysts setting a high price target of $10.00 and a low target of $5.00, the average target price over the next 12 months is $6.92. Based on these targets, MNKD could surge 165.96% to reach the target high and rise by 32.98% to reach the target low. Reaching the average price target will result in a growth of 84.04% from current levels.
Summary of Insider Activity:
Insiders traded MNKD stock several times over the past three months with 0 Buys and 10 Sells. In these transactions, 0 shares were bought while 233,743 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 2,969,004 while 2,169,458 shares were sold.