Tang Capital Management LLC Grows Holdings in Liquidia Co. (NASDAQ:LQDA)

Tang Capital Management LLC grew its holdings in shares of Liquidia Co. (NASDAQ:LQDA - Free Report) by 37.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,100,000 shares of the company's stock after purchasing an additional 300,000 shares during the quarter. Tang Capital Management LLC owned about 1.30% of Liquidia worth $12,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in Liquidia in the 4th quarter worth about $235,000. ProShare Advisors LLC boosted its stake in Liquidia by 63.9% in the 4th quarter. ProShare Advisors LLC now owns 17,853 shares of the company's stock worth $210,000 after purchasing an additional 6,960 shares during the period. Millennium Management LLC bought a new position in Liquidia in the 4th quarter worth about $526,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Liquidia by 14.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,981 shares of the company's stock worth $423,000 after purchasing an additional 4,415 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Liquidia by 1,484.5% in the 4th quarter. Janus Henderson Group PLC now owns 535,552 shares of the company's stock worth $6,293,000 after purchasing an additional 501,752 shares during the period. Institutional investors own 64.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LQDA. Oppenheimer downgraded Liquidia from a "market perform" rating to an "underperform" rating and set a $13.00 target price for the company. in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and set a $25.00 price target on shares of Liquidia in a research report on Wednesday. Raymond James lifted their price target on Liquidia from $27.00 to $29.00 and gave the company a "strong-buy" rating in a research report on Friday, May 9th. Scotiabank reiterated an "outperform" rating on shares of Liquidia in a research report on Monday, May 5th. Finally, HC Wainwright reissued a "buy" rating and set a $29.00 price objective on shares of Liquidia in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $25.56.

Liquidia Price Performance

Liquidia stock traded down $0.36 during trading hours on Wednesday, reaching $16.66. The company had a trading volume of 1,759,797 shares, compared to its average volume of 1,041,423. The company has a 50-day moving average price of $14.72 and a 200 day moving average price of $13.50. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -10.22 and a beta of 0.24. Liquidia Co. has a 12-month low of $8.26 and a 12-month high of $19.41.

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

Insiders Place Their Bets

In other news, insider Rajeev Saggar sold 2,450 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $13.67, for a total transaction of $33,491.50. Following the transaction, the insider now directly owns 263,152 shares of the company's stock, valued at approximately $3,597,287.84. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell Schundler sold 5,964 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $13.57, for a total value of $80,931.48. Following the transaction, the general counsel now owns 570,301 shares in the company, valued at $7,738,984.57. This trade represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,138 shares of company stock valued at $450,233 in the last ninety days. Company insiders own 26.50% of the company's stock.

Liquidia 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).