Insight Wealth Strategies LLC Decreases Stock Position in Liquidia Corporation $LQDA

Key Points

• Insight Wealth Strategies cut its Liquidia position by 12.9% in the second quarter, selling 18,335 shares and retaining 124,067 shares valued at approximately $9.84 million.
• Institutional investors own 64.54% of Liquidia, with several major funds—including MPM Bioimpact, Bank of America and Invesco—significantly increasing their stakes.
• Insiders have been selling shares: insiders sold 1.78 million shares worth $124.4 million over the past 90 days, while analysts maintain a “Moderate Buy” consensus with an average price target of $86.18.

Insight Wealth Strategies LLC cut its position in Liquidia Corporation (NASDAQ:LQDA - Free Report) by 12.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,067 shares of the company's stock after selling 18,335 shares during the period. Liquidia accounts for 1.0% of Insight Wealth Strategies LLC's holdings, making the stock its 29th largest position. Insight Wealth Strategies LLC owned about 0.14% of Liquidia worth $9,841,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LQDA. TCG Crossover Management LLC acquired a new position in Liquidia in the 3rd quarter valued at $38,887,000. MPM Bioimpact LLC boosted its stake in Liquidia by 600.4% during the 4th quarter. MPM Bioimpact LLC now owns 1,400,869 shares of the company's stock worth $48,316,000 after purchasing an additional 1,200,869 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in 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 first quarter. Bank of America Corp DE now owns 2,287,792 shares of the company's stock worth $86,341,000 after buying an additional 360,372 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Liquidia by 428.3% during the fourth quarter. Invesco Ltd. now owns 420,621 shares of the company's stock worth $14,507,000 after buying an additional 341,009 shares in the last quarter. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Sarah Krepp sold 7,864 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $71.51, for a total value of $562,354.64. Following the completion of the sale, the insider owned 117,178 shares of the company's stock, valued at $8,379,398.78. This represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Liquidia 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 sale, the director directly owned 501,477 shares in the company, valued at approximately $44,872,161.96. The trade was a 16.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,781,861 shares of company stock worth $124,407,112. 25.60% of the stock is currently owned by company insiders.

Liquidia Trading Down 3.3%

Shares of LQDA stock opened at $88.05 on Wednesday. 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 Corporation has a twelve month low of $21.15 and a twelve month high of $93.61. The company's 50-day moving average price is $77.76 and its 200-day moving average price is $54.51. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 628.97 and a beta of 0.58.

Liquidia (NASDAQ:LQDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). Liquidia had a return on equity of 46.82% and a net margin of 7.74%.The firm had revenue of $171.68 million for the quarter, compared to analyst estimates of $168.48 million. As a group, equities analysts predict that Liquidia Corporation will post 3.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Liquidia from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $68.00 price objective on shares of Liquidia in a research note on Thursday, June 4th. Zacks Research upgraded shares of Liquidia from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Jefferies Financial Group reissued a "buy" rating and issued a $60.00 target price on shares of Liquidia in a research note on Monday, May 11th. Finally, HC Wainwright set a $36.00 target price on Liquidia in a report on Friday, July 24th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.18.

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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