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

Tang Capital Management LLC lifted its position in shares of Liquidia Co. (NASDAQ:LQDA - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,100,000 shares of the company's stock after buying an additional 300,000 shares during the period. Tang Capital Management LLC owned about 1.30% of Liquidia worth $12,936,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. LM Advisors LLC purchased a new position in shares of Liquidia during the fourth quarter worth approximately $25,948,000. Invesco Ltd. lifted 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 purchasing an additional 674,940 shares during the last quarter. Janus Henderson Group PLC boosted its position in Liquidia by 1,484.5% during the fourth quarter. Janus Henderson Group PLC now owns 535,552 shares of the company's stock valued at $6,293,000 after buying an additional 501,752 shares during the period. Mirabella Financial Services LLP bought a new position in shares of Liquidia during the fourth quarter valued at about $5,880,000. Finally, Eversept Partners LP increased its holdings in shares of Liquidia by 314.1% in the fourth quarter. Eversept Partners LP now owns 571,305 shares of the company's stock worth $6,719,000 after buying an additional 433,356 shares during the period. Institutional investors own 64.54% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded Liquidia from a "sell" rating to a "hold" rating in a report on Thursday. Scotiabank reiterated an "outperform" rating on shares of Liquidia in a research report on Monday, May 5th. Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of Liquidia in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating and issued a $29.00 target price on shares of Liquidia in a research note on Monday, May 12th. Finally, Raymond James increased their price target on shares of Liquidia from $27.00 to $29.00 and gave the company a "strong-buy" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.56.

Insider Buying and Selling at Liquidia

In related news, CFO Michael Kaseta sold 8,283 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $112,400.31. Following the transaction, the chief financial officer now owns 396,315 shares in the company, valued at $5,377,994.55. The trade was a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Roger Jeffs sold 14,130 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $13.57, for a total transaction of $191,744.10. Following the sale, the chief executive officer now directly owns 1,006,420 shares in the company, valued at $13,657,119.40. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,138 shares of company stock valued at $450,233. 26.50% of the stock is currently owned by corporate insiders.

Liquidia Price Performance

NASDAQ:LQDA traded up $0.16 during trading hours on Friday, hitting $15.72. The company had a trading volume of 591,884 shares, compared to its average volume of 1,114,354. The stock has a 50-day moving average price of $14.73 and a 200 day moving average price of $13.54. The company has a market capitalization of $1.34 billion, a PE ratio of -9.64 and a beta of 0.24. Liquidia Co. has a 52 week low of $8.26 and a 52 week high of $19.41.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $3.23 million. Analysts anticipate that Liquidia Co. will post -1.51 EPS for the current fiscal year.

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).