Mannkind Corp (MNKD) Files Form 4 Insider Buying : Michael Castagna Buys 50,000 Shares

Mannkind Corp (MNKD): Michael Castagna , Chief Commercial Officer of Mannkind Corp purchased 50,000 shares on May 17, 2016. The Insider buying transaction was reported by the company on May 18, 2016 to the Securities and Exchange Commission. The shares were purchased at $0.93 per share for a total value of $46,500.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 26, 2015, Juergen Martens (COO) purchased 20,000 shares at $4.57 per share price.On Apr 27, 2015, Hakan Edstrom (President & CEO) sold 73,460 shares at $4.83 per share price.Also, On Feb 23, 2015, David Thomson (VP & General Counsel) sold 68,662 shares at $7.19 per share price.On Feb 9, 2015, Diane Palumbo (Vice President, Human Resource) sold 149,833 shares at $6.95 per share price.

Shares of MannKind Corporation (MNKD) ended Monday, May 16, 2016 session in red amid volatile trading. The shares closed down -0.0004 points or -0.04% at $0.935 with 44,76,610 shares getting traded. Post opening the session at $0.91, the shares hit an intraday low of $0.91 and an intraday high of $0.94 and the price vacillated in this range throughout the day. The company has a market cap of $401 M and the number of outstanding shares has been calculated to be 42,91,61,350 shares. The 52-week high of MannKind Corporation is $7.32 and the 52-week low is $0.6426.

MannKind Corporation Money Flow Index Chart

Company has been under the radar of several Street Analysts.MannKind Corporation is Reiterated by RBC Capital Mkts to Underperform and the brokerage firm has raised the Price Target to $ 0.20 from a previous price target of $0.15 .The Rating was issued on May 10, 2016.MannKind Corporation is Reiterated by Piper Jaffray to Underweight and the brokerage firm has raised the Price Target to $ 0.10 from a previous price target of $0.05 .The Rating was issued on May 10, 2016.

MannKind Corporation (MannKind) is a biopharmaceutical company focused on the discovery and development of therapeutic products for diseases such as diabetes. The Company’s product candidate is AFREZZA inhaled insulin used to control high blood sugar in adults with type one and type two diabetes and also to improve glycemic control. AFREZZA consists of a dry formulation of human insulin delivered from a small and portable inhaler. AFREZZA utilizes its Technosphere formulation technology. The Company’s Technosphere powders are -based on the Company’s fumaryl diketopiperazine (FDKP) which is a potential of Hydrogen (pH)-sensitive organic molecule that self-assembles into small particles under acidic conditions. The Company has also created breath-powered dry powder inhalers. Its inhalers can be produced in both a reusable (chronic treatment) and a single-use (acute treatment) format. The Company manufactures AFREZZA in its Danbury Connecticut facility.

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