Corsair Capital Management L.P. Takes Position in Liquidia Technologies, Inc. $LQDA

Key Points

• Corsair Capital Management L.P. has invested $148,000 in Liquidia Technologies by acquiring 10,000 shares of the company during the first quarter.
• Liquidia Technologies has seen significant increases in stock positions from several institutional investors, with 64.54% of the company's stock owned by such investors.
• Analysts have raised their price targets for Liquidia Technologies, with Needham & Company LLC setting a new price objective of $36.00 and giving the stock a "buy" rating.

Corsair Capital Management L.P. purchased a new position in shares of Liquidia Technologies, Inc. (NASDAQ:LQDA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,000 shares of the company's stock, valued at approximately $148,000.

A number of other large investors also recently bought and sold shares of LQDA. Wells Fargo & Company MN raised its stake in Liquidia Technologies by 69.1% during the fourth quarter. Wells Fargo & Company MN now owns 30,020 shares of the company's stock worth $353,000 after purchasing an additional 12,267 shares during the period. Raymond James Financial Inc. purchased a new position in Liquidia Technologies during the fourth quarter worth approximately $218,000. Barclays PLC raised its stake in Liquidia Technologies by 17.1% during the fourth quarter. Barclays PLC now owns 117,085 shares of the company's stock worth $1,377,000 after purchasing an additional 17,101 shares during the period. MetLife Investment Management LLC raised its stake in Liquidia Technologies by 14.8% during the fourth quarter. MetLife Investment Management LLC now owns 38,520 shares of the company's stock worth $453,000 after purchasing an additional 4,969 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Liquidia Technologies by 31.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,623 shares of the company's stock worth $290,000 after purchasing an additional 5,945 shares during the period. Hedge funds and other institutional investors own 64.54% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LQDA shares. Bank of America cut their target price on shares of Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Needham & Company LLC raised their target price on shares of Liquidia Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. HC Wainwright raised their target price on shares of Liquidia Technologies from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. BTIG Research reissued a "buy" rating on shares of Liquidia Technologies in a research note on Tuesday, May 27th. Finally, Oppenheimer set a $13.00 target price on shares of Liquidia Technologies and gave the company an "underperform" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $32.11.

Liquidia Technologies Stock Up 2.5%

LQDA traded up $0.70 during trading hours on Wednesday, reaching $29.28. 1,877,799 shares of the stock traded hands, compared to its average volume of 1,817,920. The firm's fifty day simple moving average is $19.48 and its two-hundred day simple moving average is $16.52. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -17.24 and a beta of 0.22. Liquidia Technologies, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $29.94. The company has a debt-to-equity ratio of 9.84, a current ratio of 2.49 and a quick ratio of 2.41.

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

Insider Activity at Liquidia Technologies

In other Liquidia Technologies news, CFO Michael Kaseta sold 30,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 376,412 shares of the company's stock, valued at $7,528,240. This trade represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul B. Manning sold 328,268 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $28.78, for a total transaction of $9,447,553.04. Following the transaction, the director directly owned 430,828 shares of the company's stock, valued at approximately $12,399,229.84. This represents a 43.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 828,073 shares of company stock worth $22,294,240 over the last 90 days. Company insiders own 30.10% 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).