Bank of America Corp DE Trims Stake in Liquidia Co. (NASDAQ:LQDA)

Bank of America Corp DE lowered its position in Liquidia Co. (NASDAQ:LQDA - Free Report) by 66.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,740 shares of the company's stock after selling 394,373 shares during the quarter. Bank of America Corp DE owned about 0.24% of Liquidia worth $2,361,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Catalina Capital Group LLC boosted its holdings in Liquidia by 6.5% during the 4th quarter. Catalina Capital Group LLC now owns 18,307 shares of the company's stock valued at $215,000 after acquiring an additional 1,125 shares during the period. Rhumbline Advisers boosted its stake in shares of Liquidia by 3.5% during the fourth quarter. Rhumbline Advisers now owns 80,652 shares of the company's stock valued at $948,000 after purchasing an additional 2,741 shares during the period. Sigma Planning Corp grew its holdings in shares of Liquidia by 3.4% in the fourth quarter. Sigma Planning Corp now owns 65,210 shares of the company's stock worth $767,000 after purchasing an additional 2,115 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Liquidia by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 188,584 shares of the company's stock worth $2,218,000 after buying an additional 6,034 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in Liquidia during the 4th quarter valued at about $59,000. Institutional investors own 64.54% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Russell Schundler sold 5,964 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 $80,931.48. Following the completion of the transaction, the general counsel now directly owns 570,301 shares in the company, valued at $7,738,984.57. This trade represents a 1.03% 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, insider Rajeev Saggar sold 2,450 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $13.67, for a total transaction of $33,491.50. Following the completion of the transaction, the insider now owns 263,152 shares in the company, 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 in the last 90 days. Insiders own 26.50% of the company's stock.

Liquidia Stock Up 1.9%

Shares of LQDA traded up $0.34 during mid-day trading on Thursday, hitting $17.94. 1,695,878 shares of the company traded hands, compared to its average volume of 1,257,779. The business has a 50 day moving average of $14.83 and a 200 day moving average of $13.86. The company has a market capitalization of $1.53 billion, a PE ratio of -11.09 and a beta of 0.24. Liquidia Co. has a 1-year low of $8.26 and a 1-year high of $19.41.

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

Analyst Ratings Changes

Several brokerages recently issued reports on LQDA. Wall Street Zen raised Liquidia from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Scotiabank upped their price objective on Liquidia from $36.00 to $37.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, May 28th. BTIG Research reiterated a "buy" rating on shares of Liquidia in a research note on Tuesday, May 27th. Raymond James boosted their target price on shares of Liquidia from $27.00 to $29.00 and gave the stock a "strong-buy" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company raised their price target on shares of Liquidia from $20.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Liquidia currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.

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).