MannKind Corporation (MNKD) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of MNKD have fallen 9.08% to $0.62 after closing the day prior at $0.68. So far, the stock has traded as high as $0.68 and as low as $0.61. Today’s decline has come with about 3.71 million shares changing hands, compared to an average 30-day volume of 3.89 million for MannKind Corporation. The price is currently below the 30-day volume weighted average price of $0.64 for MNKD.
The share depreciation gives the company a market capitalization of $325.5 million based upon 478.05 million shares outstanding. It also means that MNKD has a price-to-book ratio of 187.85:1.
In the past 52 weeks, shares of MNKD have traded as low as $0.6426 and as high as $3.79. Technical traders will take note that at $0.62, shares of MNKD are trading below their 200-day MA at $1.14 and below their 50-day MA at $0.88. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is MNKD?
MannKind Corp is a development stage company engaged in the discovery, development, and commercialization of therapeutic products for diseases such as diabetes. The company’s 192 employees are led by CEO Matthew J. Pfeffer from the corporate headquarters at 25134 Rye Canyon Loop in Valencia, CA.
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