Bluefin Capital Management LLC Acquires New Position in Liquidia Technologies, Inc. $LQDA

Key Points

• Bluefin Capital Management has acquired a new stake in Liquidia Technologies, purchasing 16,918 shares valued at approximately $250,000.
• Multiple institutional investors have also made recent moves, with 64.54% of Liquidia's stock currently owned by institutional investors and hedge funds.
• Analysts have notably raised target prices for Liquidia Technologies, with Wells Fargo increasing its target from $25.00 to $31.00, reflecting strong investor sentiment towards the stock.

Bluefin Capital Management LLC bought a new stake in Liquidia Technologies, Inc. (NASDAQ:LQDA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,918 shares of the company's stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hurley Capital LLC acquired a new position in Liquidia Technologies in the first quarter valued at $32,000. GAMMA Investing LLC boosted its holdings in Liquidia Technologies by 65.6% in the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock valued at $44,000 after acquiring an additional 1,173 shares during the last quarter. Quarry LP acquired a new position in Liquidia Technologies in the first quarter valued at $79,000. Corsair Capital Management L.P. acquired a new position in Liquidia Technologies in the first quarter valued at $148,000. Finally, Aigen Investment Management LP acquired a new position in Liquidia Technologies in the first quarter valued at $151,000. Institutional investors and hedge funds own 64.54% of the company's stock.

Liquidia Technologies Stock Down 3.7%

Shares of LQDA traded down $1.01 during midday trading on Friday, reaching $25.99. 2,211,425 shares of the company were exchanged, compared to its average volume of 2,193,365. The stock has a 50-day moving average price of $21.93 and a 200-day moving average price of $17.18. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -15.29 and a beta of 0.22. Liquidia Technologies, Inc. has a 1-year low of $9.68 and a 1-year high of $29.94. The company has a current ratio of 2.49, a quick ratio of 2.41 and a debt-to-equity ratio of 9.84.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.06). Liquidia Technologies had a negative return on equity of 232.96% and a negative net margin of 732.17%.The company had revenue of $8.84 million for the quarter, compared to analyst estimates of $3.90 million. The business's revenue was up 141.5% compared to the same quarter last year. Research analysts expect that Liquidia Technologies, Inc. will post -1.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Liquidia Technologies from $25.00 to $31.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Bank of America reduced their target price on Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Wall Street Zen upgraded Liquidia Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group began coverage on Liquidia Technologies in a research note on Friday, August 15th. They set a "buy" rating and a $43.00 price objective on the stock. Finally, BTIG Research restated a "buy" rating on shares of Liquidia Technologies in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Liquidia Technologies currently has a consensus rating of "Buy" and an average target price of $32.11.

Insiders Place Their Bets

In related news, CEO Roger Jeffs sold 20,252 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $14.28, for a total value of $289,198.56. Following the transaction, the chief executive officer owned 1,038,560 shares in the company, valued at approximately $14,830,636.80. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Kaseta sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 376,412 shares in the company, valued at approximately $7,528,240. This trade represents a 7.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,573 shares of company stock valued at $22,514,890. Insiders own 26.50% of the company's stock.

About Liquidia Technologies

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).