Eversept Partners LP Purchases 167,949 Shares of Liquidia Corporation $LQDA

Key Points

• Eversept Partners increased its Liquidia stake by 33% in the first quarter, acquiring 167,949 shares for a total position of 677,392 shares worth approximately $25.6 million. Institutional investors collectively own 64.54% of LQDA.
• Liquidia insiders sold 2.02 million shares worth approximately $129.5 million over the past three months, including sales by executives under pre-arranged Rule 10b5-1 plans to cover tax obligations.
• Analysts maintain a generally positive outlook, with Liquidia carrying a consensus “Moderate Buy” rating and an average price target of $86.18. The company recently exceeded quarterly earnings and revenue expectations, reporting $132.87 million in revenue, up 4,187.1% year over year.

Eversept Partners LP boosted its position in shares of Liquidia Corporation (NASDAQ:LQDA - Free Report) by 33.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 677,392 shares of the company's stock after acquiring an additional 167,949 shares during the period. Liquidia accounts for 1.3% of Eversept Partners LP's investment portfolio, making the stock its 20th biggest holding. Eversept Partners LP owned approximately 0.76% of Liquidia worth $25,565,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LQDA. Covestor Ltd increased its stake in shares of Liquidia by 41.9% in the fourth quarter. Covestor Ltd now owns 1,216 shares of the company's stock worth $42,000 after purchasing an additional 359 shares during the period. PNC Financial Services Group Inc. boosted its stake in Liquidia by 7.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,304 shares of the company's stock valued at $217,000 after purchasing an additional 422 shares during the period. Quantinno Capital Management LP boosted its stake in Liquidia by 3.6% during the 1st quarter. Quantinno Capital Management LP now owns 17,165 shares of the company's stock valued at $648,000 after purchasing an additional 589 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Liquidia in the 4th quarter valued at approximately $25,000. Finally, ProShare Advisors LLC grew its stake in shares of Liquidia by 7.1% in the fourth quarter. ProShare Advisors LLC now owns 11,756 shares of the company's stock worth $405,000 after acquiring an additional 775 shares during the last quarter. 64.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Sanjeev Khindri sold 1,185 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $71.51, for a total transaction of $84,739.35. Following the completion of the sale, the insider owned 65,947 shares of the company's stock, valued at approximately $4,715,869.97. This trade represents a 1.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jason Adair sold 7,863 shares of the firm's stock in a transaction on Monday, July 13th. The shares were sold at an average price of $71.51, for a total value of $562,283.13. Following the sale, the insider directly owned 217,126 shares of the company's stock, valued at $15,526,680.26. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 2,019,870 shares of company stock valued at $129,491,027. Corporate insiders own 25.60% of the company's stock.

Analyst Ratings Changes

LQDA has been the topic of a number of recent research reports. Raymond James Financial reissued a "strong-buy" rating and set a $68.00 target price on shares of Liquidia in a research report on Thursday, June 4th. Piper Sandler set a $129.00 price target on shares of Liquidia in a research note on Friday. Oppenheimer set a $75.00 price target on shares of Liquidia in a research note on Friday, June 5th. Wall Street Zen lowered shares of Liquidia from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Finally, BTIG Research increased their price objective on shares of Liquidia from $59.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Liquidia has a consensus rating of "Moderate Buy" and a consensus price target of $86.18.

Liquidia Trading Down 2.1%

LQDA stock opened at $84.42 on Tuesday. Liquidia Corporation has a 1-year low of $16.82 and a 1-year high of $91.10. The firm has a market cap of $7.51 billion, a P/E ratio of 603.04 and a beta of 0.55. The business's 50 day moving average is $71.77 and its 200-day moving average is $50.58. The company has a current ratio of 2.22, a quick ratio of 2.03 and a debt-to-equity ratio of 1.18.

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

About Liquidia

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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