FNY Investment Advisers LLC Acquires New Shares in Liquidia Corporation $LQDA

Key Points

• FNY Investment Advisers acquired 17,500 Liquidia shares worth approximately $1.395 million, while institutional investors and hedge funds collectively own 64.54% of the company.
• Liquidia reported quarterly revenue of $132.87 million, up 4,187.1% year over year, and EPS of $0.52, exceeding analysts’ $0.41 estimate. Shares opened at $89.42, near their 52-week high of $91.57.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $86.18, although insiders sold 2.15 million shares worth $142.9 million over the last quarter.

FNY Investment Advisers LLC acquired a new position in Liquidia Corporation (NASDAQ:LQDA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,500 shares of the company's stock, valued at approximately $1,395,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TCG Crossover Management LLC purchased a new stake in Liquidia in the third quarter valued at $38,887,000. MPM Bioimpact LLC lifted its stake in shares of Liquidia by 600.4% in the 4th quarter. MPM Bioimpact LLC now owns 1,400,869 shares of the company's stock valued at $48,316,000 after purchasing an additional 1,200,869 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Liquidia during the 3rd quarter worth $12,571,000. Bank of America Corp DE grew its holdings in shares of Liquidia by 18.7% during the 1st quarter. Bank of America Corp DE now owns 2,287,792 shares of the company's stock worth $86,341,000 after purchasing an additional 360,372 shares during the period. Finally, Invesco Ltd. increased its position in shares of Liquidia by 428.3% during the 4th quarter. Invesco Ltd. now owns 420,621 shares of the company's stock worth $14,507,000 after purchasing an additional 341,009 shares during the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

Liquidia Price Performance

Shares of NASDAQ LQDA opened at $89.42 on Friday. The stock's 50-day moving average is $75.88 and its two-hundred day moving average is $53.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.22 and a quick ratio of 2.03. Liquidia Corporation has a 1-year low of $19.02 and a 1-year high of $91.57. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 638.76 and a beta of 0.58.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $132.87 million during the quarter, compared to analysts' expectations of $119.44 million. The company's revenue was up 4187.1% compared to the same quarter last year. Analysts forecast that Liquidia Corporation will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on LQDA. Raymond James Financial restated a "strong-buy" rating and issued a $68.00 price objective on shares of Liquidia in a report on Thursday, June 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Liquidia in a research note on Friday, July 17th. BTIG Research lifted their price target on shares of Liquidia from $59.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Zacks Research raised shares of Liquidia from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada set a $130.00 price target on shares of Liquidia in a research note on Friday, July 24th. Three equities research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.18.

Insider Transactions at Liquidia

In other Liquidia news, insider Sarah Krepp sold 7,864 shares of the business'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 $562,354.64. Following the completion of the transaction, the insider owned 117,178 shares in the company, valued at $8,379,398.78. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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, Director Stephen M. Bloch sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $89.48, for a total transaction of $8,948,000.00. Following the completion of the sale, the director directly owned 501,477 shares in the company, valued at approximately $44,872,161.96. This represents a 16.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,150,754 shares of company stock valued at $142,869,858 over the last quarter. Insiders own 25.60% of the company's stock.

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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