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

Liquidia Corporation (NASDAQ:LQDA) insider Jason Adair sold 73,631 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $69.09, for a total transaction of $5,087,165.79. Following the completion of the sale, the insider owned 174,606 shares in the company, valued at $12,063,528.54. This represents a 29.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were 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 value of $562,283.13.

Liquidia Stock Up 1.2%

LQDA stock opened at $71.36 on Thursday. The firm has a market capitalization of $6.39 billion, a PE ratio of 52.09 and a beta of 0.58. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.63. Liquidia Corporation has a twelve month low of $21.15 and a twelve month high of $93.61. The stock’s 50 day moving average is $79.36 and its 200-day moving average is $56.86.

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

Institutional Trading of Liquidia

Several hedge funds have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Liquidia during the 2nd quarter worth $1,236,000. California State Teachers Retirement System lifted its holdings in Liquidia by 8,055.4% during the second quarter. California State Teachers Retirement System now owns 5,907,594 shares of the company’s stock valued at $471,012,000 after purchasing an additional 5,835,156 shares during the last quarter. Seven Fleet Capital Management LP boosted its position in Liquidia by 25.2% during the second quarter. Seven Fleet Capital Management LP now owns 256,603 shares of the company’s stock worth $20,459,000 after purchasing an additional 51,727 shares during the period. AXQ Capital LP purchased a new position in shares of Liquidia in the second quarter worth about $546,000. Finally, Nykredit A S purchased a new position in shares of Liquidia in the second quarter worth about $177,000. 64.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LQDA has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Liquidia in a research report on Friday, July 17th. BTIG Research boosted their price objective on Liquidia from $109.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Oppenheimer set a $75.00 price objective on Liquidia in a research note on Friday, June 5th. Zacks Research cut Liquidia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, 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 report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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).