Avoro Capital Advisors 13F: Cuts MannKind (MNKD) Stake by $9.6M

Avoro Capital Advisors has significantly reduced its stake in MannKind Corporation (NasdaqGM: MNKD), cutting it by 50% according to a recent Form 13F filing with the SEC. As of the filing, Avoro Capital now holds 2.2 million shares valued at approximately $8.05 million, a decrease of 2,244,444 shares from its previous position of 4,444,444 shares.

What Changed in Avoro Capital's MannKind Position

Avoro Capital's decision to cut its position in MannKind Corporation by 50% brought its holdings down to 2.2 million shares. The shares are currently valued at about $8.05 million. This reduction reflects a significant move for the firm, which previously held 4,444,444 shares.

Other Institutional Activity in MannKind

In other institutional activity, BlackRock, Inc. slightly reduced its holdings by 348,517 shares, ending with 28,600,998 shares valued at approximately $70.07 million. Meanwhile, State Street Corp increased its position by 4,060,214 shares, bringing its total to 18,683,483 shares worth about $45.77 million. UBS Group AG also boosted its holdings by 3,152,333 shares, now holding 8,255,430 shares valued at $20.23 million. Additionally, Millennium Management LLC made a significant increase, adding 5,878,182 shares to hold 6,390,922 shares, valued at roughly $15.66 million.

MannKind Corporation Stock Up 20.3%

Shares of MannKind Corporation are trading at $3.66. The company has a market capitalization of approximately $1.13 billion and a forward P/E ratio of 19.01. The stock has experienced a 52-week low of $2.23 and a high of $6.51. MannKind's 50-day moving average is $3.10, while its 200-day moving average stands at $4.55. The firm's current ratio is 1.87, with a quick ratio of 1.43, reflecting its liquidity position.

Recent Earnings

MannKind Corporation reported revenue of $360.78 million, with a revenue growth rate of 15.1%. Despite this growth, the company reported a net margin of -6.63%, indicating ongoing profitability challenges. The next earnings report is scheduled for August 5, 2026.

Insider Buying and Selling at MannKind Corporation

Recent insider activity at MannKind shows several purchases. On May 20, 2026, Christine Mundkur, Steven Binder, Michael Friedman, and Anthony Hooper each bought 82,781 shares, while Ronald Consiglio purchased 10,000 shares at $2.95 each. Dominic Marasco, President of the Endocrine Business Unit, also bought 8,474 shares at the same price.

Analysts Set New Price Targets

On May 7, 2026, RBC Capital maintained its hold rating on MannKind, setting a price target of $4.75. Wells Fargo and Mizuho both maintained buy ratings, with price targets of $10.00 and $7.00, respectively. HC Wainwright & Co. also maintained a buy rating with a $10.00 target. The consensus among analysts is a strong buy, with a mean target price of $7.59 based on eight opinions.

About MannKind Corporation

MannKind Corporation is a biopharmaceutical company based in Danbury, Connecticut, specializing in treatments for chronic diseases. Led by CEO Dr. Michael E. Castagna, the company focuses on products like Afrezza, an inhaled insulin, and the V-Go insulin delivery device. MannKind also develops therapies for pulmonary hypertension and fluid overload in heart failure and chronic kidney disease. The company collaborates with United Therapeutics Corporation and Thirona on various projects.

Bottom Line

Avoro Capital's decision to halve its stake in MannKind Corporation is significant, reflecting strategic portfolio adjustments. Investors keep a close eye on such filings to gauge institutional sentiment. However, it's important to remember that 13F filings are historical and may not indicate current positions. Analysts remain optimistic about MannKind, with a strong buy consensus and ongoing insider purchases suggesting confidence in the company's future.