Millennium Management LLC Purchases New Shares in Liquidia Co. (NASDAQ:LQDA)

Millennium Management LLC purchased a new position in shares of Liquidia Co. (NASDAQ:LQDA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,753 shares of the company's stock, valued at approximately $526,000. Millennium Management LLC owned approximately 0.05% of Liquidia at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LQDA. Vanguard Group Inc. increased its holdings in Liquidia by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 3,557,296 shares of the company's stock worth $41,834,000 after acquiring an additional 115,367 shares during the period. LM Advisors LLC purchased a new stake in Liquidia in the fourth quarter worth $25,948,000. Geode Capital Management LLC raised its holdings in Liquidia by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 1,339,254 shares of the company's stock worth $15,753,000 after purchasing an additional 101,597 shares in the last quarter. Invesco Ltd. raised its stake in Liquidia by 2,675.0% in the fourth quarter. Invesco Ltd. now owns 700,171 shares of the company's stock worth $8,234,000 after buying an additional 674,940 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Liquidia by 19.5% during the fourth quarter. Northern Trust Corp now owns 589,921 shares of the company's stock valued at $6,937,000 after purchasing an additional 96,381 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company's stock.

Liquidia Stock Up 2.3%

NASDAQ LQDA traded up $0.32 on Thursday, reaching $14.45. The stock had a trading volume of 3,075,456 shares, compared to its average volume of 1,199,109. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -8.87 and a beta of 0.04. Liquidia Co. has a 12-month low of $8.26 and a 12-month high of $19.41. The stock has a fifty day moving average price of $15.08 and a two-hundred day moving average price of $14.09.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.03). Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. The company had revenue of $3.12 million during the quarter, compared to analysts' expectations of $3.23 million. Sell-side analysts forecast that Liquidia Co. will post -1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LQDA has been the topic of several analyst reports. Raymond James upped their target price on shares of Liquidia from $27.00 to $29.00 and gave the stock a "strong-buy" rating in a research note on Friday, May 9th. BTIG Research reaffirmed a "buy" rating on shares of Liquidia in a research report on Tuesday, May 27th. HC Wainwright raised their price objective on Liquidia from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Bank of America dropped their price objective on Liquidia from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Needham & Company LLC restated a "buy" rating on shares of Liquidia in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.89.

Insider Activity at Liquidia

In related news, insider Jason Adair sold 1,856 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $13.57, for a total value of $25,185.92. Following the completion of the sale, the insider now directly owns 184,304 shares of the company's stock, valued at $2,501,005.28. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Roger Jeffs sold 14,130 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $13.57, for a total value of $191,744.10. Following the completion of the sale, the chief executive officer now directly owns 1,006,420 shares in the company, valued at $13,657,119.40. This represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,138 shares of company stock valued at $450,233 in the last ninety days. Corporate insiders own 26.50% of the company's stock.

About Liquidia

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).