Avoro Capital Advisors Reduces $8M in MannKind Corporation ($MNKD)
Avoro Capital Advisors halved its stake in MNKD, selling over 2.2 million shares.
Key Points
- Avoro Capital Advisors cut its MNKD position by 50%, selling 2,244,444 shares, leaving 2.2 million shares worth $8.05 million.
- MNKD shares traded at $3.66; notable institutional moves included State Street Corp adding over 4 million shares.
- Insiders, including Dominic Marasco, bought shares recently; analysts maintain varied price targets from $4.75 to $10.00.
Avoro Capital Advisors recently cut its stake in MNKD by roughly 50%, according to its latest 13F filing with the SEC. The firm sold 2,244,444 shares, leaving it with 2,200,000 shares valued at about $8.05 million as of the reporting period. This significant reduction reflects a strategic shift for the fund.
What Changed in Avoro Capital Advisors' MNKD Position
Avoro Capital Advisors reduced its holdings in MNKD from 4,444,444 shares to 2,200,000 shares, selling off 2,244,444 shares in the process. This marks a 50% reduction in its position, with the remaining shares valued at approximately $8.05 million.
Other Institutional Activity in MNKD
In the same period, BlackRock, Inc. trimmed its MNKD holdings by 348,517 shares, ending with 28,600,998 shares worth about $70.07 million. Meanwhile, State Street Corp significantly increased its stake, adding 4,060,214 shares to hold a total of 18,683,483 shares valued at $45.77 million. Vanguard Capital Management LLC entered the scene with 12,891,066 shares, valued at around $31.58 million. UBS Group AG also expanded its position, acquiring 3,152,333 additional shares to reach 8,255,430 shares, valued at $20.23 million. Geode Capital Management, LLC made a smaller addition of 131,009 shares, bringing its total to 7,505,147 shares, valued at $18.39 million.
MNKD Stock Snapshot
Shares of MNKD traded around $3.66. The stock's recent trading activity shows a 52-week range between its lowest and highest prices, with its current market dynamics reflecting broader market conditions and investor sentiment.
Insider Buying and Selling at MannKind Corporation
On May 20, 2026, several insiders made purchases of MNKD shares. Christine Mundkur, Steven Binder, and Michael Friedman each bought 82,781 shares. Anthony Hooper acquired 99,337 shares, while Ronald Consiglio and Dominic Marasco purchased 10,000 and 8,474 shares, respectively. Consiglio and Marasco made their purchases at an average price of $2.95 per share.
Analysts Set New Price Targets
Analyst firms have maintained their ratings on MNKD, with RBC Capital maintaining a 'hold' rating and setting a price target of $4.75 on May 7, 2026. Wells Fargo and Mizuho also maintained their 'buy' ratings with price targets of $10.00 and $7.00, respectively. HC Wainwright & Co. echoed Wells Fargo's sentiment with a $10.00 target.
About MNKD
MNKD is involved in the healthcare sector, focusing on the development and commercialization of therapeutic products. The company operates from its headquarters, working under the leadership of its CEO. MNKD employs a team dedicated to advancing its product pipeline and addressing unmet medical needs.
Bottom Line
Avoro Capital Advisors' reduction in its MNKD stake is a notable move that investors will watch closely. The 13F filings provide a backward-looking view of institutional holdings, offering insights into fund strategies. MNKD remains under the spotlight with ongoing insider buying and varied analyst price targets, highlighting its dynamic market position.
See Also
This instant news alert was generated by automated narrative technology and financial data from Trueearnings and public regulatory filings. It is for informational purposes only and is not financial advice.