Liquidia Co. (NASDAQ:LQDA) is Patient Square Capital LP’s 2nd Largest Position

Patient Square Capital LP cut its holdings in shares of Liquidia Co. (NASDAQ:LQDA) by 74.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,860,371 shares of the company’s stock after selling 5,322,161 shares during the quarter. Liquidia comprises approximately 8.2% of Patient Square Capital LP’s portfolio, making the stock its 2nd biggest holding. Patient Square Capital LP owned approximately 2.20% of Liquidia worth $21,878,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Liquidia during the 4th quarter valued at $59,000. Summit Investment Advisors Inc. boosted its holdings in Liquidia by 35.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company’s stock valued at $78,000 after acquiring an additional 1,719 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Liquidia during the fourth quarter valued at about $142,000. EntryPoint Capital LLC acquired a new stake in Liquidia during the fourth quarter worth about $154,000. Finally, Bayesian Capital Management LP acquired a new stake in Liquidia during the fourth quarter worth about $163,000. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LQDA. Raymond James boosted their target price on Liquidia from $27.00 to $29.00 and gave the stock a “strong-buy” rating in a report on Friday, May 9th. HC Wainwright reiterated a “buy” rating and set a $29.00 price objective on shares of Liquidia in a research note on Monday. Scotiabank reissued an “outperform” rating on shares of Liquidia in a research note on Monday, May 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Liquidia in a report on Monday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $27.13.

Liquidia Stock Up 1.5%

LQDA opened at $15.99 on Wednesday. The firm’s 50 day moving average is $14.25 and its 200-day moving average is $13.21. Liquidia Co. has a 52-week low of $8.26 and a 52-week high of $16.81. The firm has a market capitalization of $1.37 billion, a P/E ratio of -9.81 and a beta of 0.24.

Liquidia (NASDAQ:LQDA) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). Liquidia had a negative return on equity of 163.21% and a negative net margin of 765.38%. The firm had revenue of $3.12 million for the quarter, compared to analysts’ expectations of $3.23 million. Equities analysts expect that Liquidia Co. will post -1.51 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jason Adair sold 1,856 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $13.57, for a total value of $25,185.92. Following the completion of the transaction, the insider now owns 184,304 shares of the company’s stock, valued at approximately $2,501,005.28. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rajeev Saggar sold 2,450 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $13.67, for a total value of $33,491.50. Following the sale, the insider now owns 263,152 shares of the company’s stock, valued at approximately $3,597,287.84. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,138 shares of company stock worth $450,233 over the last ninety days. Corporate insiders own 30.10% of the company’s stock.

Liquidia Profile

Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for unmet patient needs in the United States. Its lead product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).