NEW YORK (AVAFIN) -- Institutional trading of MannKind shares yielded a bought/sold volume ratio of 2.28. A total of 58 block trades crossed the tape, resulting in 859,329 shares on the buy side vs. 377,608 shares on the sell side. From a cash flow perspective, this implies that there was a cash inflow of $3,762,202 and a cash outflow of $1,648,249. The net cash flow for MNKD is $2,113,953, demonstrating that institutions may have positive outlook on the stock.
Options traders were busy as well, a total of 25,064 call and 10,781 put contracts were traded yesterday yielding a 0.43 put/call ratio.
MannKind is searching for a partner to help market Afrezza. Potential deals could net the firm attractive licensing payments or shareholders a hefty takeover premium. Additionaly, Billionaire entrepreneur Alfred Mann's leadership and financial support have allowed MannKind to maintain exclusive rights to Afrezza, which should put the firm in a position of strength when negotiating partnership terms.
MannKind Corporation is a biopharmaceutical company, which is focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes and cancer.
MannKind opened at $4.26 and the stock price rose $0.34 (+8.37%) to $4.40 during the market session. MNKD is trading between the range of $4.16 - $4.49. Performance indicators show that the stock has gained 7.12% within the last week. Volume is 10M in relation to the three month average volume of 4M shares. The technical momentum Relative Strength Index indicator shows overbought conditions. MNKD is trading above the 50 day moving average and higher than the 200 day moving average.
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