NEW YORK (AVAFIN) -- Block trades help investors understand the sentiment of large financial institutions. A total of 17 block trades were executed during the last trading session, typically at least 10,000 shares or more represent a single block unit. Further analysis reveals that 72,800 shares were bought and 134,406 shares were sold. The bought/sold ratio for shares of MannKind is 0.54, representing a negative net cash flow of $,471,330 out of the stock.
On the derivative side, a total of 3,203 put and 10,597 call contracts exchanged hands yesterday leading to a 0.30 put/call ratio.
Safety concerns linking Exubera use to lung cancer in former smokers prompted diabetes experts such as Novo Nordisk and Eli Lilly to discontinue their inhaled insulin products. Additionaly, Afrezza's expected launch delay will push potential profitability out even further and worsen the company's cash burn. If MannKind is not able to establish a partnership before Afrezza's approval, current shareholders will be at risk of additional dilution.
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.
Shares of MannKind edged down $0.17 (2.23%) to $7.47. The price of the stock ranged between a low of $7.40 and $7.70 respectively. The trading volume of 5M is above the 90 day average volume of 4M shares. The technical momentum Relative Strength Index indicator shows overbought conditions. MNKD is trading above the 50 day moving average. The stock's 52 week low is $1.57 and 52 week high is $4.50. To date, the stock has gained 114.61% within the last quarter.
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