Stone Ridge Asset Management Exits Position in MannKind Corporation (MNKD)

MannKind Corporation (MNKD) : Stone Ridge Asset Management has sold out all of its stake in MannKind Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 21,300 shares of MannKind Corporation which is valued at $21,236.

Other Hedge Funds, Including , Aqr Capital Management sold out all of its stake in MNKD during the most recent quarter. The investment firm sold 11,820 shares of MNKD which is valued $11,785. Howard Capital Management added MNKD to its portfolio by purchasing 25,000 company shares during the most recent quarter which is valued at $24,675.

MannKind Corporation closed down -0.0658 points or -8.21% at $0.7352 with 57,95,966 shares getting traded on Thursday. Post opening the session at $0.7992, the shares hit an intraday low of $0.7202 and an intraday high of $0.819 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

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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