California State Teachers Retirement System Has $2.73 Million Stock Holdings in Liquidia Corporation $LQDA

Key Points

• California State Teachers Retirement System increased its Liquidia stake by 25% to 72,438 shares, valued at approximately $2.73 million. Institutional investors collectively own 64.54% of the company.
• Analysts maintain a generally positive outlook, with Liquidia receiving a consensus “Moderate Buy” rating and an average price target of $86.18, though individual targets range from $36 to $130.
• Liquidia reported quarterly revenue of $132.87 million and earnings of $0.52 per share, exceeding estimates; however, insiders sold 1.81 million shares worth about $125.8 million over the past 90 days.

California State Teachers Retirement System lifted its position in Liquidia Corporation (NASDAQ:LQDA - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 72,438 shares of the company's stock after purchasing an additional 14,485 shares during the quarter. California State Teachers Retirement System owned 0.08% of Liquidia worth $2,734,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $556,000 after buying an additional 1,700 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Liquidia by 10.7% during the first quarter. Goldman Sachs Group Inc. now owns 861,231 shares of the company's stock worth $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 increased its holdings in shares of Liquidia by 15.2% during 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 buying an additional 16,022 shares in the last quarter. Creative Planning raised its stake in shares of Liquidia by 40.7% in the second quarter. Creative Planning now owns 26,840 shares of the company's stock valued at $334,000 after acquiring an additional 7,765 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Liquidia by 13.4% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LQDA. Piper Sandler set a $129.00 price target on Liquidia in a report on Friday, July 24th. Needham & Company LLC raised their target price on Liquidia from $54.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, May 11th. HC Wainwright set a $36.00 price target on Liquidia in a report on Friday, July 24th. Stephens set a $130.00 price objective on shares of Liquidia in a report on Friday, July 24th. Finally, Oppenheimer set a $75.00 price objective on shares of Liquidia in a research report on Friday, June 5th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Liquidia presently has a consensus rating of "Moderate Buy" and an average price target of $86.18.

Insider Buying and Selling

In other news, Director Paul B. Manning sold 200,000 shares of the firm'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 transaction, the director directly owned 716,311 shares in the company, valued at $45,779,436.01. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen M. Bloch sold 242,269 shares of Liquidia stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $70.43, for a total value of $17,063,005.67. Following the sale, the director directly owned 1,176,184 shares of the company's stock, valued at approximately $82,838,639.12. This trade represents a 17.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,806,861 shares of company stock worth $125,814,362. Insiders own 25.60% of the company's stock.

Liquidia Price Performance

Liquidia stock opened at $90.22 on Monday. The business's 50-day simple moving average is $76.45 and its 200 day simple moving average is $53.81. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 644.47 and a beta of 0.58. Liquidia Corporation has a 12-month low of $19.02 and a 12-month high of $91.57. The company has a quick ratio of 2.03, a current ratio of 2.22 and a debt-to-equity ratio of 1.18.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.11. Liquidia had a return on equity of 46.82% and a net margin of 7.74%.The firm had revenue of $132.87 million during the quarter, compared to analysts' expectations of $119.44 million. Liquidia's quarterly revenue was up 4187.1% compared to the same quarter last year. As a group, research analysts anticipate that Liquidia Corporation will post 3.02 earnings per share for the current year.

Liquidia Company 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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