Insider Selling: Liquidia (NASDAQ:LQDA) Insider Sells $2,269,392.56 in Stock

Liquidia Corporation (NASDAQ:LQDA) insider Rajeev Saggar sold 29,534 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $76.84, for a total value of $2,269,392.56. Following the transaction, the insider directly owned 142,265 shares of the company’s stock, valued at $10,931,642.60. The trade was a 17.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rajeev Saggar also recently made the following trade(s):

• On Wednesday, August 19th, Rajeev Saggar sold 50,000 shares of Liquidia stock. The stock was sold at an average price of $74.06, for a total value of $3,703,000.00.
• On Monday, July 13th, Rajeev Saggar sold 9,926 shares of Liquidia stock. The stock was sold at an average price of $71.51, for a total value of $709,808.26.

Liquidia Price Performance

Shares of NASDAQ:LQDA traded up $1.00 during midday trading on Wednesday, hitting $75.33. The company’s stock had a trading volume of 1,155,908 shares, compared to its average volume of 1,795,268. The company has a market cap of $6.74 billion, a P/E ratio of 54.99 and a beta of 0.58. Liquidia Corporation has a 12-month low of $21.15 and a 12-month high of $93.61. The business’s 50 day simple moving average is $79.15 and its 200 day simple moving average is $55.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.12 and a current ratio of 2.31.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Liquidia from $62.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Needham & Company LLC increased their price target on shares of Liquidia from $70.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Piper Sandler set a $129.00 price target on shares of Liquidia in a research report on Friday, July 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Liquidia in a research report on Friday, July 17th. Finally, Oppenheimer set a $75.00 target price on Liquidia in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.08.

Institutional Investors Weigh In On Liquidia

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TCG Crossover Management LLC acquired a new position in Liquidia during the 3rd quarter worth about $38,887,000. MPM Bioimpact LLC boosted its stake in shares of Liquidia by 600.4% in the fourth quarter. MPM Bioimpact LLC now owns 1,400,869 shares of the company’s stock valued at $48,316,000 after purchasing an additional 1,200,869 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Liquidia in the third quarter valued at approximately $12,571,000. Bank of New York Mellon Corp acquired a new position in shares of Liquidia in the second quarter valued at approximately $29,694,000. Finally, Bank of America Corp DE increased its stake in Liquidia by 18.7% during the 1st quarter. Bank of America Corp DE now owns 2,287,792 shares of the company’s stock worth $86,341,000 after buying an additional 360,372 shares during the period. 64.54% of the stock is owned by hedge funds and other institutional investors.

Liquidia Company 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).