Bank of New York Mellon Corp acquired a new stake in shares of Liquidia Corporation (NASDAQ:LQDA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 372,434 shares of the company's stock, valued at approximately $29,694,000. Bank of New York Mellon Corp owned approximately 0.42% of Liquidia as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Liquidia by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,681 shares of the company's stock worth $556,000 after purchasing an additional 1,700 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Liquidia by 10.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 861,231 shares of the company's stock valued at $12,703,000 after buying an additional 82,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Liquidia by 15.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,756 shares of the company's stock worth $1,796,000 after acquiring an additional 16,022 shares in the last quarter. Creative Planning increased its stake in Liquidia by 40.7% during the second quarter. Creative Planning now owns 26,840 shares of the company's stock worth $334,000 after acquiring an additional 7,765 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Liquidia by 13.4% during the second quarter. Legal & General Group Plc now owns 94,152 shares of the company's stock worth $1,174,000 after acquiring an additional 11,111 shares during the last quarter. Hedge funds and other institutional investors own 64.54% of the company's stock.
Liquidia Stock Performance
LQDA stock opened at $67.69 on Friday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 49.41 and a beta of 0.58. Liquidia Corporation has a one year low of $21.15 and a one year high of $93.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.12 and a current ratio of 2.31. The firm has a 50-day simple moving average of $79.27 and a two-hundred day simple moving average of $57.12.
Liquidia (NASDAQ:LQDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.02). The business had revenue of $171.68 million during the quarter, compared to analyst estimates of $168.48 million. Liquidia had a return on equity of 149.65% and a net margin of 30.74%.Liquidia's revenue was up 1842.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.49) EPS. On average, equities analysts forecast that Liquidia Corporation will post 2.57 EPS for the current fiscal year.
Insider Activity
In related news, Director Paul B. Manning sold 200,000 shares of the company's stock in a transaction that occurred 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 sale, the director owned 716,311 shares in the company, valued at $45,779,436.01. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen M. Bloch sold 242,269 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $70.43, for a total transaction of $17,063,005.67. Following the completion of the transaction, the director owned 1,176,184 shares in the company, valued at approximately $82,838,639.12. This trade represents a 17.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,854,286 shares of company stock valued at $131,450,837. Company insiders own 25.60% of the company's stock.
Analyst Upgrades and Downgrades
LQDA has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Liquidia from $62.00 to $108.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Needham & Company LLC lifted their price target on shares of Liquidia from $70.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Raymond James Financial reissued a "strong-buy" rating and issued a $106.00 price objective on shares of Liquidia in a research note on Thursday, August 13th. HC Wainwright set a $36.00 price target on Liquidia in a report on Friday, July 24th. Finally, Lifesci Capital lowered Liquidia from an "outperform" rating to a "hold" rating and set a $90.00 price target for the company. in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $98.08.
Read Our Latest Stock Analysis on LQDA
Liquidia Company Profile
(
Free Report)
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).
See Also
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