Stuart A. Tross, Chief People & Workplace Officer at MannKind Corp (NASDAQ: MNKD) Sells $500K Worth of Company Stock
Stuart A. Tross, Chief People & Workplace Officer at MannKind Corp (NASDAQ: MNKD), has recently sold a significant portion of his company stock, totaling over half a million dollars. The sales were made through two separate transactions on August 30, 2024, under a Rule 10b5-1 Plan to avoid insider trading accusations.
Tross sold 45,000 shares at $6.33 each, generating around $284,850, and 35,000 shares at a weighted average price of $6.32 per share, totaling $221,200. Despite these sales, Tross still holds 1,047,191 shares of MannKind stock within a price range of $6.25 to $6.38 per share.
Investors often monitor insider transactions for insights into executive confidence. MannKind Corp, known for its pharmaceutical preparations, continues its operations with Tross as part of its executive team. Recent developments include a raised price target by Oppenheimer and record revenues in the second quarter of 2024.
MannKind's market capitalization is approximately $1.74 billion, with a high P/E ratio of 147.91. The company has shown significant returns, with a one-week price total return of 16.57%, signaling positive short-term performance. Analysts predict profitability this year, contributing to the stock's recent uptick.
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