Seven Fleet Capital Management LP Purchases Shares of 91,267 Liquidia Corporation $LQDA

Key Points

• Seven Fleet Capital Management opened a new position in Liquidia, buying 91,267 shares valued at about $3.15 million, making LQDA its fourth-largest holding and about 2.4% of its portfolio.
• Several other institutional investors also increased stakes in Liquidia, and hedge funds and other institutions now own 64.54% of the company’s shares.
• Wall Street sentiment has improved, with multiple analysts upgrading the stock and a consensus rating of “Moderate Buy”; Liquidia also reported earnings and revenue above estimates in its latest quarter.

Seven Fleet Capital Management LP acquired a new position in shares of Liquidia Corporation (NASDAQ:LQDA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 91,267 shares of the company's stock, valued at approximately $3,148,000. Liquidia accounts for about 2.4% of Seven Fleet Capital Management LP's holdings, making the stock its 4th biggest position. Seven Fleet Capital Management LP owned 0.10% of Liquidia at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LQDA. Farallon Capital Management LLC boosted its position in Liquidia by 1.1% during the 4th quarter. Farallon Capital Management LLC now owns 8,656,038 shares of the company's stock worth $298,547,000 after purchasing an additional 90,400 shares during the period. Vanguard Group Inc. lifted its position in shares of Liquidia by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,013,888 shares of the company's stock worth $138,439,000 after purchasing an additional 52,671 shares in the last quarter. Opaleye Management Inc. boosted its stake in shares of Liquidia by 9.5% in the second quarter. Opaleye Management Inc. now owns 2,475,000 shares of the company's stock valued at $30,838,000 after purchasing an additional 215,000 shares during the period. Caprock Group LLC boosted its stake in shares of Liquidia by 9.3% in the fourth quarter. Caprock Group LLC now owns 1,783,921 shares of the company's stock valued at $61,527,000 after purchasing an additional 151,832 shares during the period. Finally, TCG Crossover Management LLC acquired a new stake in Liquidia during the 3rd quarter valued at $38,887,000. Hedge funds and other institutional investors own 64.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LQDA shares. Oppenheimer set a $75.00 price target on shares of Liquidia in a research note on Friday, June 5th. Wall Street Zen upgraded Liquidia from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Zacks Research raised Liquidia from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Lifesci Capital upgraded Liquidia to a "strong-buy" rating in a research note on Thursday, March 5th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $68.00 price target on shares of Liquidia in a report on Thursday, June 4th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Liquidia has a consensus rating of "Moderate Buy" and an average target price of $60.29.

Liquidia Trading Up 3.5%

LQDA opened at $71.07 on Friday. The stock has a market capitalization of $6.32 billion, a PE ratio of 507.68 and a beta of 0.58. The firm's fifty day moving average price is $52.44 and its 200 day moving average price is $42.03. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.22 and a quick ratio of 2.03. Liquidia Corporation has a 12-month low of $11.85 and a 12-month high of $73.22.

Liquidia (NASDAQ:LQDA - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.11. The firm had revenue of $132.87 million for the quarter, compared to the consensus estimate of $119.44 million. Liquidia had a net margin of 7.74% and a return on equity of 46.82%. The firm's revenue for the quarter was up 4187.1% compared to the same quarter last year. As a group, research analysts expect that Liquidia Corporation will post 2.97 EPS for the current fiscal year.

Insider Transactions at Liquidia

In other news, Director Stephen M. Bloch sold 318,893 shares of Liquidia stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $50.23, for a total value of $16,017,995.39. Following the completion of the transaction, the director owned 1,870,042 shares in the company, valued at approximately $93,932,209.66. This trade represents a 14.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul B. Manning sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $63.91, for a total value of $12,782,000.00. Following the completion of the sale, the director owned 716,311 shares of the company's stock, valued at $45,779,436.01. This trade represents a 21.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,282,894 shares of company stock valued at $128,344,713. Insiders own 25.60% of the company's stock.

Liquidia Profile

Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.

The company's lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).

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