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 position in shares of Liquidia Technologies, Inc. (NASDAQ:LQDA - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,876 shares of the company's stock after selling 22,535 shares during the period. Liquidia Technologies makes up about 3.4% of Resolute Capital Asset Partners LLC's investment portfolio, making the stock its 8th largest position. Resolute Capital Asset Partners LLC owned 0.47% of Liquidia Technologies worth $5,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LQDA. Hurley Capital LLC bought a new position in Liquidia Technologies during the first quarter valued at $32,000. GAMMA Investing LLC increased its position in Liquidia Technologies by 65.6% during the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock valued at $44,000 after acquiring an additional 1,173 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Liquidia Technologies during the fourth quarter valued at $142,000. Aigen Investment Management LP bought a new position in Liquidia Technologies during the first quarter valued at $151,000. Finally, Bayesian Capital Management LP bought a new position in Liquidia Technologies during the fourth quarter valued at $163,000. Institutional investors own 64.54% of the company's stock.

Insider Activity

In other news, CFO Michael Kaseta sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 376,412 shares in the company, valued at $7,528,240. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Roger Jeffs sold 20,252 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $14.28, for a total transaction of $289,198.56. Following the transaction, the chief executive officer owned 1,038,560 shares in the company, valued at approximately $14,830,636.80. This trade represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,277 shares of company stock valued at $1,469,392. 26.50% of the stock is owned by company insiders.

Liquidia Technologies Stock Down 0.5%

Shares of LQDA stock traded down $0.14 during mid-day trading on Thursday, hitting $27.86. 709,715 shares of the stock traded hands, compared to its average volume of 1,795,481. The stock has a market cap of $2.40 billion, a P/E ratio of -16.39 and a beta of 0.14. The stock's fifty day moving average is $18.33 and its two-hundred day moving average is $16.20. Liquidia Technologies, Inc. has a 52-week low of $8.75 and a 52-week high of $28.82. The company has a debt-to-equity ratio of 9.84, a current ratio of 2.49 and a quick ratio of 2.41.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last released 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). The firm had revenue of $8.84 million for the quarter, compared to analysts' expectations of $3.90 million. Liquidia Technologies had a negative net margin of 732.17% and a negative return on equity of 232.96%. Liquidia Technologies's revenue for the quarter was up 141.5% compared to the same quarter last year. Equities analysts predict that Liquidia Technologies, Inc. will post -1.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LQDA. Jefferies Financial Group initiated coverage on shares of Liquidia Technologies in a research note on Friday, August 15th. They set a "buy" rating and a $43.00 target price for the company. Needham & Company LLC upped their price objective on shares of Liquidia Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Bank of America lowered their price objective on shares of Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Scotiabank upped their price objective on shares of Liquidia Technologies from $36.00 to $37.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, May 28th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Liquidia Technologies in a research note on Tuesday, May 27th. Two 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 stock. According to MarketBeat.com, Liquidia Technologies currently has a consensus rating of "Buy" and an average target price 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).