Tower Research Capital LLC TRC has increased its holdings in MannKind Co. (NASDAQ:MNKD) by 126.5% during the 1st quarter of 2023, according to the company’s recent filing with the Securities & Exchange Commission (SEC). The fund now owns 53,709 shares of MannKind’s stock, representing an additional purchase of 29,992 shares during this period. As of the most recent filing with the SEC, Tower Research Capital’s holdings in MannKind were valued at $221,000.

MannKind Corp., founded by Alfred E. Mann on February 14, 1991 and headquartered in Danbury, CT, is a biopharmaceutical company focused on developing and commercializing therapeutic products and devices for individuals suffering from endocrine and orphan lung diseases.

Tower Research Capital’s increased investment in MannKind signifies its confidence in the company’s potential for growth and success in the biopharmaceutical industry. This move also highlights Tower Research Capital’s strategy of diversifying its portfolio by expanding its holdings in innovative and promising companies.

MannKind is dedicated to addressing the unmet medical needs of patients with endocrine disorders and rare lung conditions through its research and development efforts. The company aims to improve patient outcomes and quality of life by introducing novel therapies and advanced medical devices.

The biopharmaceutical industry plays a critical role in advancing healthcare by developing innovative treatments for debilitating diseases. With its focus on endocrine disorders and orphan lung diseases, MannKind targets niche markets that are often underserved or lack effective treatment options. By addressing these unmet medical needs, MannKind has positioned itself as a key player in the field.

Investors like Tower Research Capital recognize the potential value of investing in companies like MannKind that are at the forefront of innovation within their respective fields. Biopharmaceutical companies have a unique opportunity to significantly impact patient lives while simultaneously generating financial returns for their investors.

Tower Research Capital’s decision to increase its holdings in MannKind demonstrates the fund’s belief in the company’s ability to deliver on its mission and generate long-term value. The fund’s investment strategy aligns with the potential growth prospects of MannKind, as it continues to develop and commercialize its therapeutic products and devices.

As of August 28, 2023, Tower Research Capital LLC TRC’s increased holdings in MannKind Co. (NASDAQ:MNKD) reflect their confidence in the biopharmaceutical company’s potential for further success. MannKind Corp.’s commitment to the development of therapeutic solutions for endocrine and orphan lung diseases positions it well within the industry. This recent filing underscores Tower Research Capital’s strategic investment decisions and highlights the compelling opportunities presented by innovative companies operating in the biopharmaceutical sector.

Hedge Funds and Institutional Investors Show Interest in MannKind Corp. as Stock Ownership Increases

August 28, 2023 – MannKind Corp. (NASDAQ: MNKD), a biopharmaceutical company specializing in therapeutic products and devices for individuals with endocrine and orphan lung diseases, has garnered attention from hedge funds and institutional investors in recent months.

According to recent reports, several hedge funds have made significant purchases of MannKind shares, while others have sold their positions. Mirae Asset Global Investments Co. Ltd., for instance, increased its stake in the company by 47.7% during the first quarter. They now own 215,284 shares valued at $883,000 after acquiring an additional 69,564 shares.

Emerald Mutual Fund Advisers Trust also raised their stake in MannKind by 5%, amounting to a total of 1,879,671 shares valued at $7,707,000. Hunter Associates Investment Management LLC followed suit with a 31.1% increase in their stake to reach ownership of 50,570 shares valued at $207,000.

SG Americas Securities LLC took an even more substantial leap by acquiring an additional 26,910 shares during the last quarter alone. This brought their total holdings to approximately 59,200 shares worth $243,000. The Arizona State Retirement System also joined the ranks of institutional investors by increasing its MannKind holdings by an additional 5%, reaching a total of 72,449 shares valued at $297,000.

These recent transactions indicate growing interest among hedge funds and other institutional investors towards MannKind Corp., as they now collectively own approximately 52.68% of the company’s stock.

The market seems optimistic about MannKind’s prospects as well. A number of brokerages have commented positively on the company’s performance. Cantor Fitzgerald increased their target price on MannKind from $6.50 to $7.50 and issued an “overweight” rating for the stock.

HC Wainwright also raised their price objective on MannKind from $7.00 to $7.50, recommending a “buy” rating. Additionally, StockNews.com recently initiated coverage on the company with a “hold” rating.

Founded by Alfred E. Mann on February 14, 1991, MannKind Corp. is based in Danbury, CT. The company focuses on the development and commercialization of therapeutic products and devices for individuals with endocrine and orphan lung diseases.

In further news related to MannKind Corp., CEO Michael Castagna completed a stock sale transaction in July. The sale involved 10,000 shares at an average price of $4.07 per share, totaling $40,700. Following this transaction, Castagna now holds approximately 2,506,735 shares worth $10,202,411.45.

Over the past ninety days, insiders have sold a total of 30,000 shares valued at approximately $131,700. Insider ownership currently stands at 4% of the company’s stock.

As of Monday’s trading session (August 28th), MNKD opened at $4.72 per share on NASDAQ. The business currently holds a fifty-day simple moving average of $4.46 and a two-hundred-day simple moving average of $4.43.

MannKind Corp.’s market capitalization sits at around $1.27 billion with a price-to-earnings ratio of -24.84 and a beta of 1.53—with higher beta values suggesting greater volatility compared to the market average.

Despite the recent fluctuations in hedge fund investments and insider trading activity within the company, MannKind’s consistent focus on developing specialized therapeutic products continues to capture attention both from investment institutions and potential buyers alike.

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