Jason Adair Sells 73,631 Shares of Liquidia (NASDAQ:LQDA) Stock

Liquidia Corporation (NASDAQ:LQDA) insider Jason Adair sold 73,631 shares of Liquidia stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $69.09, for a total transaction of $5,087,165.79. Following the completion of the transaction, the insider directly owned 174,606 shares of the company’s stock, valued at $12,063,528.54. This trade represents a 29.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jason Adair also recently made the following trade(s):

• On Monday, July 27th, Jason Adair sold 688 shares of Liquidia stock. The stock was sold at an average price of $87.53, for a total transaction of $60,220.64.
• On Monday, July 13th, Jason Adair sold 7,863 shares of Liquidia stock. The stock was sold at an average price of $71.51, for a total transaction of $562,283.13.

Liquidia Stock Performance

NASDAQ LQDA traded up $0.22 during trading hours on Tuesday, reaching $70.49. The company’s stock had a trading volume of 931,033 shares, compared to its average volume of 1,784,144. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $79.26 and a 200 day simple moving average of $56.47. Liquidia Corporation has a 52 week low of $21.15 and a 52 week high of $93.61. The stock has a market cap of $6.31 billion, a PE ratio of 51.45 and a beta of 0.58.

Liquidia (NASDAQ:LQDA) last posted its earnings results on Wednesday, August 12th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). The company had revenue of $171.68 million for the quarter, compared to the consensus estimate of $168.48 million. Liquidia had a net margin of 30.74% and a return on equity of 149.65%. The firm’s revenue for the quarter was up 1842.1% compared to the same quarter last year. During the same period last year, the company posted ($0.49) earnings per share. Equities research analysts predict that Liquidia Corporation will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Liquidia

Several hedge funds and other institutional investors have recently bought and sold shares of LQDA. Northwestern Mutual Wealth Management Co. acquired a new stake in Liquidia in the 4th quarter valued at about $25,000. Covestor Ltd boosted its position in shares of Liquidia by 41.9% during the 4th quarter. Covestor Ltd now owns 1,216 shares of the company’s stock valued at $42,000 after purchasing an additional 359 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Liquidia in the 2nd quarter worth approximately $25,000. Globeflex Capital L P acquired a new position in shares of Liquidia in the 2nd quarter worth approximately $175,000. Finally, Nykredit A S bought a new stake in shares of Liquidia in the 2nd quarter worth approximately $177,000. 64.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LQDA. HC Wainwright set a $36.00 target price on Liquidia in a research report on Friday, July 24th. Oppenheimer set a $75.00 price target on shares of Liquidia in a report on Friday, June 5th. Jefferies Financial Group restated a “buy” rating and set a $60.00 price target on shares of Liquidia in a research report on Monday, May 11th. Bank of America increased their price objective on shares of Liquidia from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Liquidia in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.08.

About Liquidia

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).