Alpine Global Management LLC Sells 73,045 Shares of Liquidia Technologies, Inc. $LQDA

Key Points

• Alpine Global Management LLC reduced its stake in Liquidia Technologies by 48.7% in the first quarter, selling over 73,000 shares, and now holds 0.09% of the company valued at approximately $1.1 million.
• Insiders have sold a total of 90,277 shares worth about $1.47 million over the last quarter, indicating a 1.84% decrease in one insider's position and a 1.31% decrease in another's.
• Liquidia Technologies reported a 141.5% revenue increase year-over-year but missed EPS estimates, with a negative return on equity of -232.96%.

Alpine Global Management LLC lowered its position in shares of Liquidia Technologies, Inc. (NASDAQ:LQDA - Free Report) by 48.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,955 shares of the company's stock after selling 73,045 shares during the quarter. Alpine Global Management LLC owned approximately 0.09% of Liquidia Technologies worth $1,135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LQDA. GAMMA Investing LLC raised its stake in Liquidia Technologies by 65.6% in the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock valued at $44,000 after buying an additional 1,173 shares during the period. Cetera Investment Advisers grew its position in shares of Liquidia Technologies by 4.3% in the fourth quarter. Cetera Investment Advisers now owns 31,243 shares of the company's stock valued at $367,000 after purchasing an additional 1,277 shares during the last quarter. Valmark Advisers Inc. grew its position in shares of Liquidia Technologies by 7.4% in the first quarter. Valmark Advisers Inc. now owns 18,641 shares of the company's stock valued at $275,000 after purchasing an additional 1,283 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of Liquidia Technologies by 6.4% in the first quarter. Bleakley Financial Group LLC now owns 25,308 shares of the company's stock valued at $373,000 after purchasing an additional 1,523 shares during the last quarter. Finally, Significant Wealth Partners LLC grew its position in shares of Liquidia Technologies by 14.1% in the first quarter. Significant Wealth Partners LLC now owns 14,396 shares of the company's stock valued at $212,000 after purchasing an additional 1,780 shares during the last quarter. 64.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Roger Jeffs sold 20,252 shares of the business's stock in a transaction on 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 directly owned 1,038,560 shares of the company's stock, valued at approximately $14,830,636.80. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Kaseta sold 30,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $20.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 376,412 shares in the company, valued at $7,528,240. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 828,073 shares of company stock valued at $22,294,240 over the last quarter. 26.50% of the stock is owned by insiders.

Liquidia Technologies Price Performance

LQDA traded up $0.14 during midday trading on Friday, hitting $28.98. 866,168 shares of the company traded hands, compared to its average volume of 1,817,258. Liquidia Technologies, Inc. has a 52-week low of $8.75 and a 52-week high of $29.94. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -17.05 and a beta of 0.22. The business has a 50 day simple moving average of $20.11 and a two-hundred day simple moving average of $16.70. The company has a current ratio of 2.49, a quick ratio of 2.41 and a debt-to-equity ratio of 9.84.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.06). Liquidia Technologies had a negative net margin of 732.17% and a negative return on equity of 232.96%. The business had revenue of $8.84 million during the quarter, compared to analyst estimates of $3.90 million. The business's quarterly revenue was up 141.5% compared to the same quarter last year. On average, equities analysts forecast that Liquidia Technologies, Inc. will post -1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on LQDA shares. Oppenheimer set a $13.00 target price on Liquidia Technologies and gave the stock an "underperform" rating in a research note on Monday, May 19th. Wells Fargo & Company increased their price target on shares of Liquidia Technologies from $25.00 to $31.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. BTIG Research reissued a "buy" rating on shares of Liquidia Technologies in a research report on Tuesday, May 27th. Needham & Company LLC boosted 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. Finally, Wall Street Zen upgraded Liquidia Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $32.11.

Liquidia Technologies Company 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).