Liquidia Corporation $LQDA Stock: CenterBook Partners LP Boosts Position

Key Points

• CenterBook Partners increased its Liquidia stake by 933.5% in the third quarter, to 79,640 shares worth about $2.41 million. Institutional investors and hedge funds collectively own 64.54% of the company.
• Company insiders sold 566,579 shares worth approximately $25.7 million over the past 90 days; the reported transactions were made under pre-arranged Rule 10b5-1 plans.
• Analysts’ consensus rating is Hold, with an average price target of $72.85. In its latest reported quarter, Liquidia narrowly missed EPS estimates but exceeded revenue expectations, with revenue up 1,842% year over year.

CenterBook Partners LP raised its position in Liquidia Corporation (NASDAQ:LQDA - Free Report) by 933.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 79,640 shares of the company's stock after purchasing an additional 71,934 shares during the period. CenterBook Partners LP owned about 0.09% of Liquidia worth $2,410,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bank of America Corp DE raised its stake 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 buying an additional 360,372 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Liquidia in the 2nd quarter worth about $29,694,000. Eversept Partners LP grew its stake in Liquidia by 33.0% in the 1st quarter. Eversept Partners LP now owns 677,392 shares of the company's stock valued at $25,565,000 after acquiring an additional 167,949 shares during the last quarter. Seven Fleet Capital Management LP grew its stake in Liquidia by 25.2% in the 2nd quarter. Seven Fleet Capital Management LP now owns 256,603 shares of the company's stock valued at $20,459,000 after acquiring an additional 51,727 shares during the last quarter. Finally, Pale Fire Capital SE grew its stake in Liquidia by 2.4% in the 1st quarter. Pale Fire Capital SE now owns 388,377 shares of the company's stock valued at $14,657,000 after acquiring an additional 8,985 shares during the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

Insider Buying and Selling

In other news, Director Katherine Rielly-Gauvin sold 36,789 shares of Liquidia stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $74.99, for a total transaction of $2,758,807.11. Following the completion of the sale, the director directly owned 44,637 shares in the company, valued at $3,347,328.63. The trade was a 45.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jason Adair sold 73,631 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $69.09, for a total transaction of $5,087,165.79. Following the completion of the transaction, the insider directly owned 174,606 shares of the company's stock, valued at approximately $12,063,528.54. This represents a 29.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 566,579 shares of company stock worth $25,746,120 in the last 90 days. 25.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LQDA. Wells Fargo & Company raised their target price on shares of Liquidia from $30.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, October 14th. Needham & Company LLC reduced their price target on shares of Liquidia from $72.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, October 14th. HC Wainwright upped their price target on shares of Liquidia from $58.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, October 15th. Royal Bank Of Canada set a $65.00 price target on shares of Liquidia in a research report on Thursday, October 15th. Finally, Wall Street Zen cut shares of Liquidia from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $72.85.

Liquidia Price Performance

Shares of NASDAQ:LQDA opened at $44.40 on Monday. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.63. Liquidia Corporation has a 52-week low of $22.31 and a 52-week high of $93.61. The stock's fifty day simple moving average is $50.38 and its 200-day simple moving average is $54.43. The company has a market capitalization of $3.97 billion, a P/E ratio of 32.41, a P/E/G ratio of 0.39 and a beta of 0.40.

Liquidia (NASDAQ:LQDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.02). Liquidia had a return on equity of 149.65% and a net margin of 30.74%. The company had revenue of $171.68 million for the quarter, compared to analysts' expectations of $168.48 million. During the same quarter in the prior year, the business posted ($0.49) EPS. The company's revenue for the quarter was up 1842.1% compared to the same quarter last year. As a group, equities research analysts forecast that Liquidia Corporation will post 2.05 earnings per share for the current fiscal year.

About Liquidia

Liquidia Corporation is a biopharmaceutical company focused on developing and commercializing treatments for pulmonary hypertension and other serious diseases. Its work includes inhaled therapies designed to deliver medicines to the lungs.

The company's marketed product, Yutrepia (treprostinil) inhalation powder, is approved in the United States for adults with pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Liquidia also has a pipeline of investigational therapies, including other formulations of treprostinil.

Liquidia was founded in 2004 and uses its PRINT particle-engineering technology in drug development.

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