Bank of America Corp DE Has $86.34 Million Stock Holdings in Liquidia Corporation $LQDA

Key Points

• Bank of America increased its Liquidia stake by 18.7% in the first quarter to 2.29 million shares valued at approximately $86.3 million. Institutional investors and hedge funds collectively own 64.54% of LQDA.
• Liquidia shares opened at $90.22, near their 52-week high of $91.57, while the company reported quarterly EPS of $0.52 and revenue of $132.87 million—up 4,187.1% year over year and above analyst estimates.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $86.18, although insiders sold 2.15 million shares worth roughly $142.9 million over the past 90 days.

Bank of America Corp DE raised its holdings in Liquidia Corporation (NASDAQ:LQDA - Free Report) by 18.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,287,792 shares of the company's stock after buying an additional 360,372 shares during the period. Bank of America Corp DE owned about 2.57% of Liquidia worth $86,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Liquidia during the fourth quarter worth about $25,000. NewEdge Advisors LLC bought a new position in Liquidia in the 2nd quarter valued at about $25,000. Covestor Ltd lifted its position in Liquidia by 41.9% in the 4th quarter. Covestor Ltd now owns 1,216 shares of the company's stock valued at $42,000 after acquiring an additional 359 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Liquidia by 281.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,679 shares of the company's stock valued at $83,000 after purchasing an additional 4,927 shares during the last quarter. Finally, Hurley Capital LLC boosted its stake in Liquidia by 140.7% during the 4th quarter. Hurley Capital LLC now owns 5,200 shares of the company's stock valued at $179,000 after purchasing an additional 3,040 shares during the last quarter. 64.54% of the stock is currently owned by institutional investors and hedge funds.

Liquidia Stock Up 0.9%

Liquidia stock opened at $90.22 on Friday. Liquidia Corporation has a fifty-two week low of $19.02 and a fifty-two week high of $91.57. The stock has a market cap of $8.02 billion, a PE ratio of 644.47 and a beta of 0.58. The firm's 50-day simple moving average is $76.45 and its 200 day simple moving average is $53.69. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.03 and a current ratio of 2.22.

Liquidia (NASDAQ:LQDA - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.41 by $0.11. Liquidia had a net margin of 7.74% and a return on equity of 46.82%. The firm had revenue of $132.87 million during the quarter, compared to analyst estimates of $119.44 million. The business's revenue for the quarter was up 4187.1% on a year-over-year basis. Research analysts predict that Liquidia Corporation will post 3.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on LQDA shares. Raymond James Financial reissued a "strong-buy" rating and set a $68.00 price objective on shares of Liquidia in a report on Thursday, June 4th. HC Wainwright set a $36.00 target price on Liquidia in a research report on Friday, July 24th. Wall Street Zen downgraded Liquidia from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Oppenheimer set a $75.00 price target on Liquidia in a report on Friday, June 5th. Finally, Bank of America reissued a "neutral" rating and issued a $79.00 price target (up from $64.00) on shares of Liquidia in a research report on Monday, June 29th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Liquidia currently has an average rating of "Moderate Buy" and a consensus price target of $86.18.

Insider Activity at Liquidia

In other Liquidia news, Director Stephen M. Bloch sold 318,893 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $50.23, for a total value of $16,017,995.39. Following the transaction, the director owned 1,870,042 shares of the company's stock, valued at approximately $93,932,209.66. The trade was a 14.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul B. Manning sold 200,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $63.91, for a total value of $12,782,000.00. Following the completion of the transaction, the director directly owned 716,311 shares in the company, valued at approximately $45,779,436.01. This represents a 21.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,150,754 shares of company stock valued at $142,869,858. 25.60% of the stock is currently owned by corporate insiders.

Liquidia 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).

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