Liquidia (NASDAQ:LQDA) Stock Price Down 9.5% – Here’s What Happened

Liquidia Co. (NASDAQ:LQDA)’s stock price was down 9.5% during mid-day trading on Monday . The company traded as low as $17.12 and last traded at $17.10. Approximately 651,304 shares changed hands during trading, a decline of 36% from the average daily volume of 1,022,397 shares. The stock had previously closed at $18.88.

Analysts Set New Price Targets

LQDA has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $29.00 price objective on shares of Liquidia in a research report on Monday, May 12th. Raymond James upped their target price on shares of Liquidia from $27.00 to $29.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 9th. Scotiabank reiterated an “outperform” rating on shares of Liquidia in a report on Monday, May 5th. Oppenheimer downgraded shares of Liquidia from a “market perform” rating to an “underperform” rating and set a $13.00 price target for the company. in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Liquidia in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.56.

Liquidia Stock Down 0.1%

The stock has a market capitalization of $1.45 billion, a PE ratio of -10.44 and a beta of 0.24. The stock’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.48.

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

Insider Transactions at Liquidia

In other news, insider Jason Adair sold 1,856 shares of the firm’s 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 directly owns 184,304 shares in the company, valued at $2,501,005.28. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Roger Jeffs sold 14,130 shares of Liquidia stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $191,744.10. Following the completion of the transaction, the chief executive officer now owns 1,006,420 shares of the company’s stock, valued at approximately $13,657,119.40. This represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,138 shares of company stock worth $450,233. Insiders own 26.50% of the company’s stock.

Institutional Trading of Liquidia

Several large investors have recently made changes to their positions in LQDA. Corebridge Financial Inc. boosted its position in shares of Liquidia by 2.3% during the 4th quarter. Corebridge Financial Inc. now owns 31,516 shares of the company’s stock valued at $371,000 after acquiring an additional 694 shares during the last quarter. Catalina Capital Group LLC boosted its holdings in Liquidia by 6.5% in the 4th quarter. Catalina Capital Group LLC now owns 18,307 shares of the company’s stock valued at $215,000 after purchasing an additional 1,125 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Liquidia by 65.6% in the 1st quarter. GAMMA Investing LLC now owns 2,961 shares of the company’s stock valued at $44,000 after buying an additional 1,173 shares during the period. Cetera Investment Advisers increased its holdings in shares of Liquidia by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 31,243 shares of the company’s stock worth $367,000 after buying an additional 1,277 shares during the last quarter. Finally, Valmark Advisers Inc. increased its holdings in shares of Liquidia by 7.4% during the 1st quarter. Valmark Advisers Inc. now owns 18,641 shares of the company’s stock worth $275,000 after buying an additional 1,283 shares during the last quarter. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

About Liquidia

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).