Handelsbanken Fonder AB Invests $1.99 Million in Liquidia Corporation $LQDA

Key Points

• Handelsbanken Fonder AB acquired 25,000 Liquidia shares worth approximately $1.99 million during the second quarter. Institutional investors collectively own 64.54% of LQDA.
• Liquidia shares were trading at $77.70, up 4.4%, with a market capitalization of $6.95 billion. The company reported quarterly revenue of $171.68 million, up 1,842.1% year over year, but EPS of $0.74 fell short of estimates.
• Analyst sentiment is mixed, with an average rating of “Hold” and a consensus price target of $98.08; several firms raised targets to between $110 and $111. Meanwhile, insiders sold 1.73 million shares worth about $121.5 million over the past 90 days.

Handelsbanken Fonder AB bought a new stake in Liquidia Corporation (NASDAQ:LQDA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,000 shares of the company's stock, valued at approximately $1,993,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Liquidia during the 4th quarter valued at about $25,000. NewEdge Advisors LLC bought a new stake in Liquidia during the second quarter valued at approximately $25,000. Covestor Ltd grew its position in Liquidia by 41.9% during the fourth quarter. Covestor Ltd now owns 1,216 shares of the company's stock valued at $42,000 after buying an additional 359 shares during the period. Tower Research Capital LLC TRC increased its holdings in Liquidia by 281.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,679 shares of the company's stock valued at $83,000 after buying an additional 4,927 shares during the last quarter. Finally, Hurley Capital LLC increased its holdings in Liquidia by 140.7% during the fourth quarter. Hurley Capital LLC now owns 5,200 shares of the company's stock valued at $179,000 after buying an additional 3,040 shares during the last quarter. 64.54% of the stock is owned by hedge funds and other institutional investors.

Liquidia Stock Up 4.4%

NASDAQ LQDA opened at $77.70 on Tuesday. The stock's 50 day moving average is $78.94 and its 200 day moving average is $55.47. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.63. Liquidia Corporation has a 12 month low of $21.15 and a 12 month high of $93.61. The stock has a market cap of $6.95 billion, a PE ratio of 56.72 and a beta of 0.58.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.02). The company had revenue of $171.68 million for the quarter, compared to analysts' expectations of $168.48 million. Liquidia had a net margin of 30.74% and a return on equity of 149.65%. The company's quarterly revenue was up 1842.1% compared to the same quarter last year. During the same period last year, the business earned ($0.49) earnings per share. Research analysts predict that Liquidia Corporation will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LQDA. Needham & Company LLC lifted their price target on shares of Liquidia from $70.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Bank of America upped their price objective on Liquidia from $79.00 to $92.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Zacks Research downgraded Liquidia from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. HC Wainwright set a $36.00 target price on Liquidia in a research report on Friday, July 24th. Finally, BTIG Research upped their price target on Liquidia from $109.00 to $111.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $98.08.

Insiders Place Their Bets

In other Liquidia news, Director Stephen M. Bloch sold 242,269 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $70.43, for a total value of $17,063,005.67. Following the sale, the director owned 1,176,184 shares in the company, valued at $82,838,639.12. The trade was a 17.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul B. Manning sold 200,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $63.91, for a total transaction of $12,782,000.00. Following the transaction, the director directly owned 716,311 shares of the company's stock, valued at $45,779,436.01. This trade represents a 21.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,731,861 shares of company stock valued at $121,514,862. 25.60% of the stock is owned by company insiders.

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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