LGT Fund Management Co Ltd. bought a new stake in shares of Liquidia Corporation (NASDAQ:LQDA – Free Report) during the 1st quarter, HoldingsChannel.com reports. The fund bought 110,250 shares of the company’s stock, valued at approximately $4,161,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Valmark Advisers Inc. boosted its holdings in Liquidia by 10.2% during the 1st quarter. Valmark Advisers Inc. now owns 20,546 shares of the company’s stock worth $775,000 after acquiring an additional 1,905 shares during the last quarter. Burney Co. bought a new position in shares of Liquidia during the first quarter valued at about $1,830,000. Bryant Woods Investment Advisors LLC purchased a new position in Liquidia during the first quarter worth about $325,000. Capricorn Fund Managers Ltd purchased a new position in Liquidia during the first quarter worth about $9,337,000. Finally, Apollon Wealth Management LLC bought a new stake in Liquidia in the 1st quarter worth about $247,000. 64.54% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Liquidia from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. HC Wainwright increased their price target on Liquidia from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Jefferies Financial Group reiterated a “buy” rating and set a $60.00 price target on shares of Liquidia in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liquidia in a research report on Tuesday, April 21st. Finally, Needham & Company LLC upped their price objective on Liquidia from $54.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.88.
Insider Buying and Selling at Liquidia
In other news, Director Stephen M. Bloch sold 318,893 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $50.23, for a total transaction of $16,017,995.39. Following the transaction, the director owned 1,870,042 shares of the company’s stock, valued at $93,932,209.66. This represents a 14.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Kaseta sold 139,390 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.14, for a total value of $5,595,114.60. Following the transaction, the chief financial officer directly owned 353,356 shares in the company, valued at $14,183,709.84. This represents a 28.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,197,987 shares of company stock valued at $132,832,158. Company insiders own 25.60% of the company’s stock.
Liquidia Stock Performance
LQDA traded down $3.52 during midday trading on Friday, reaching $77.93. The company had a trading volume of 1,165,748 shares, compared to its average volume of 2,242,264. Liquidia Corporation has a 12-month low of $13.76 and a 12-month high of $82.96. The business has a 50-day moving average price of $65.00 and a two-hundred day moving average price of $46.90. The stock has a market cap of $6.93 billion, a PE ratio of 556.68 and a beta of 0.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.03 and a current ratio of 2.22.
Liquidia (NASDAQ:LQDA – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.11. The company had revenue of $132.87 million during the quarter, compared to analyst estimates of $119.44 million. Liquidia had a net margin of 7.74% and a return on equity of 46.82%. The company’s revenue was up 4187.1% on a year-over-year basis. On average, sell-side analysts expect that Liquidia Corporation will post 3.02 earnings per share for the current fiscal year.
Liquidia Profile
Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.
The company’s lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).
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