Resolute Capital Asset Partners LLC Sells 22,535 Shares of Liquidia Technologies, Inc. $LQDA

Key Points

• Resolute Capital Asset Partners LLC has reduced its holdings in Liquidia Technologies by 5.3%, owning about 404,876 shares, which constitutes 3.4% of the fund's portfolio and makes it its 8th largest position.
• Multiple institutional investors, including Cetera Investment Advisers and Deutsche Bank AG, have modified their positions in Liquidia Technologies, highlighting increased interest in the company.
• Analysts are optimistic about Liquidia Technologies, with many raising target prices and assigning "buy" ratings, resulting in an average price target of $32.11 and an overall average rating of "Buy."

Resolute Capital Asset Partners LLC decreased its holdings in shares of Liquidia Technologies, Inc. (NASDAQ:LQDA - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 404,876 shares of the company's stock after selling 22,535 shares during the period. Liquidia Technologies makes up approximately 3.4% of Resolute Capital Asset Partners LLC's investment portfolio, making the stock its 8th largest holding. Resolute Capital Asset Partners LLC owned 0.47% of Liquidia Technologies worth $5,972,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Hurley Capital LLC acquired a new stake in Liquidia Technologies in the 1st quarter worth approximately $32,000. GAMMA Investing LLC lifted its stake in shares of Liquidia Technologies by 65.6% during the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock worth $44,000 after buying an additional 1,173 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Liquidia Technologies during the fourth quarter valued at $142,000. Aigen Investment Management LP acquired a new position in shares of Liquidia Technologies in the 1st quarter valued at $151,000. Finally, Bayesian Capital Management LP purchased a new position in Liquidia Technologies in the 4th quarter worth $163,000. Institutional investors and hedge funds own 64.54% of the company's stock.

Liquidia Technologies Price Performance

Shares of NASDAQ:LQDA traded up $0.27 during trading on Wednesday, reaching $28.00. 1,601,016 shares of the company's stock traded hands, compared to its average volume of 1,802,526. The company has a quick ratio of 2.41, a current ratio of 2.49 and a debt-to-equity ratio of 9.84. Liquidia Technologies, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $28.82. The company has a 50-day simple moving average of $18.04 and a 200-day simple moving average of $16.12. The firm has a market cap of $2.41 billion, a PE ratio of -16.47 and a beta of 0.14.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $3.90 million. The company's quarterly revenue was up 141.5% compared to the same quarter last year. As a group, analysts predict that Liquidia Technologies, Inc. will post -1.51 earnings per share for the current year.

Insider Transactions at Liquidia Technologies

In other news, CEO Roger Jeffs sold 20,252 shares of Liquidia Technologies stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $14.28, for a total value of $289,198.56. Following the sale, the chief executive officer owned 1,038,560 shares in the company, valued at $14,830,636.80. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Adair sold 2,576 shares of the business's stock in a transaction dated 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 directly owned 193,634 shares of the company's stock, valued at $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 in the last ninety days. Company insiders own 30.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LQDA shares. Wall Street Zen upgraded Liquidia Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Bank of America dropped their target price on Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. HC Wainwright raised their price target on shares of Liquidia Technologies from $29.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company lifted their price objective on shares of Liquidia Technologies from $25.00 to $31.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial upped their price objective on shares of Liquidia Technologies from $33.00 to $41.00 and gave the company a "strong-buy" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $32.11.

Liquidia Technologies Profile

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).