NEW YORK (AVAFIN) -- A record number of MannKind call contracts were traded during the busy trading session. There were 4.5 call contracts traded for each put contract yielding a 0.22 put/call ratio where 4,521 put and 20,325 call contracts exchanged hands.
Put/Call ratio is often used to measure investor sentiment, the ratio serves as a predictor of investor behavior. A high put/call ratio suggests that the investor sentiment is bearish and that investors expect the underlying stock to decrease in value. In contrast, a low put/call ratio suggests that the investor sentiment is bullish and that the underlying stock is expected to increase in value. Unusual volume provides reliable clues that the stock is expected to make a move.
Afrezza has demonstrated a much more favorable side-effect profile compared with injectable insulin therapy. Long-term safety data also indicate that the product does not cause a decrease in lung function. Additionaly, MannKind plans to price Afrezza at parity with insulin analogs and has developed its device to fit comfortably in the palm, which should help remedy the reimbursement and design issues encountered by Exubera.
MannKind is currently trading at $4.60, up $0.17 (+3.84%) in today's trading session. The shares of the stock were trading between $4.51 and $4.74. Performance indicators show that the stock has gained 12.72% within the last week. Todays's volume of 9M shares is greater than the average volume of 4M shares. MNKD is trading above the 50 day moving average and higher than the 200 day moving average.
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