Invesco Ltd. Sells 51,134 Shares of Liquidia Technologies, Inc. $LQDA

Key Points

• Invesco Ltd. has reduced its holdings in Liquidia Technologies by 7.3%, selling 51,134 shares and now owning approximately 649,037 shares valued at $9.57 million.
• Multiple hedge funds, including Whitefort Capital Management LP and Tang Capital Management LLC, have increased their stakes in Liquidia Technologies, indicating growing institutional interest in the company.
• Liquidia Technologies has reported a significant 141.5% year-over-year increase in revenue, with a quarterly revenue of $8.84 million, despite missing EPS estimates by $0.06.

Invesco Ltd. lowered its position in shares of Liquidia Technologies, Inc. (NASDAQ:LQDA - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 649,037 shares of the company's stock after selling 51,134 shares during the quarter. Invesco Ltd. owned approximately 0.76% of Liquidia Technologies worth $9,573,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hurley Capital LLC acquired a new stake in shares of Liquidia Technologies during the 1st quarter worth about $32,000. GAMMA Investing LLC increased its position in shares of Liquidia Technologies by 65.6% during the 1st quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock worth $44,000 after purchasing an additional 1,173 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Liquidia Technologies during the 4th quarter worth about $142,000. Bayesian Capital Management LP acquired a new stake in shares of Liquidia Technologies during the 4th quarter worth about $163,000. Finally, Significant Wealth Partners LLC increased its position in shares of Liquidia Technologies by 14.1% during the 1st quarter. Significant Wealth Partners LLC now owns 14,396 shares of the company's stock worth $212,000 after purchasing an additional 1,780 shares in the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

Insider Activity at Liquidia Technologies

In other news, CFO Michael Kaseta sold 30,000 shares of Liquidia Technologies stock in a transaction that occurred 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 sale, the chief financial officer owned 376,412 shares in the company, valued at $7,528,240. The trade was a 7.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Adair sold 2,576 shares of Liquidia Technologies stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $14.28, for a total transaction of $36,785.28. Following the sale, the insider owned 193,634 shares of the company's stock, valued at approximately $2,765,093.52. This represents a 1.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,277 shares of company stock worth $1,469,392 over the last 90 days. Insiders own 26.50% of the company's stock.

Liquidia Technologies Price Performance

LQDA traded up $0.22 during midday trading on Friday, hitting $27.68. The company had a trading volume of 2,174,424 shares, compared to its average volume of 3,122,468. The company has a debt-to-equity ratio of 9.84, a quick ratio of 2.41 and a current ratio of 2.49. The company has a market capitalization of $2.38 billion, a PE ratio of -16.28 and a beta of 0.14. Liquidia Technologies, Inc. has a twelve month low of $8.75 and a twelve month high of $28.82. The firm's 50-day simple moving average is $18.89 and its 200-day simple moving average is $16.36.

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

Analyst Upgrades and Downgrades

LQDA has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Liquidia Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Needham & Company LLC increased their target price on shares of Liquidia Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Jefferies Financial Group initiated coverage on shares of Liquidia Technologies in a research report on Friday, August 15th. They issued a "buy" rating and a $43.00 price objective for the company. HC Wainwright raised their price objective on shares of Liquidia Technologies from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Oppenheimer set a $13.00 price objective on shares of Liquidia Technologies and gave the company an "underperform" rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $32.11.

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).