Harel Insurance Investments Financial Services Ltd. buys $1,969,500 stake in MannKind Corporation (MNKD)

MannKind Corporation (MNKD) : Harel Insurance Investments Financial Services Ltd. scooped up 200,000 additional shares in MannKind Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 1,950,000 shares of MannKind Corporation which is valued at $1,969,500.MannKind Corporation makes up approximately 0.22% of Harel Insurance Investments Financial Services Ltd.’s portfolio.

Other Hedge Funds, Including , Capital Investment Advisors sold out all of its stake in MNKD during the most recent quarter. The investment firm sold 10,000 shares of MNKD which is valued $9,980.Simplex Trading boosted its stake in MNKD in the latest quarter, The investment management firm added 3,088 additional shares and now holds a total of 3,099 shares of MannKind Corporation which is valued at $3,059.

MannKind Corporation opened for trading at $0.98 and hit $1 on the upside on Monday, eventually ending the session at $1, with a gain of 2.04% or 0.02 points. The heightened volatility saw the trading volume jump to 19,13,100 shares. Company has a market cap of $429 M.

On the company’s financial health, MannKind Corporation reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.06.Analysts expectations of $ .03.During the same quarter in the previous year, the company posted $-0.07 EPS.

Many Wall Street Analysts have commented on MannKind Corporation. Company shares were Reiterated by RBC Capital Mkts on May 10, 2016 to “Underperform”, Firm has raised the Price Target to $ 0.20 from a previous price target of $0.15 .Company shares were Reiterated by Piper Jaffray on May 10, 2016 to “Underweight”, Firm has raised the Price Target to $ 0.10 from a previous price target of $0.05 .

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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