Vestal Point Capital LP Sells 532,597 Shares of Liquidia Technologies, Inc. $LQDA

Key Points

• Vestal Point Capital LP has reduced its stake in Liquidia Technologies by 30.3%, now holding approximately $18.10 million worth of shares, making it the institutional investor's 26th largest holding.
• In the past quarter, other institutional investors also adjusted their stakes, with Cetera Investment Advisers increasing holdings by 4.3% and Deutsche Bank AG boosting its position by 53.4%.
• Liquidia Technologies reported a revenue increase of 141.5% year-over-year, with a current market capitalization of $2.38 billion, despite a negative EPS of ($0.49).

Vestal Point Capital LP reduced its stake in shares of Liquidia Technologies, Inc. (NASDAQ:LQDA - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,227,403 shares of the company's stock after selling 532,597 shares during the period. Liquidia Technologies accounts for approximately 1.3% of Vestal Point Capital LP's portfolio, making the stock its 26th biggest holding. Vestal Point Capital LP owned 1.44% of Liquidia Technologies worth $18,104,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LQDA. Hurley Capital LLC bought a new position in Liquidia Technologies during the first quarter valued at about $32,000. GAMMA Investing LLC increased its stake in shares of Liquidia Technologies by 65.6% in the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock worth $44,000 after purchasing an additional 1,173 shares during the period. Quarry LP bought a new position in shares of Liquidia Technologies in the first quarter worth about $79,000. D. E. Shaw & Co. Inc. bought a new position in shares of Liquidia Technologies in the fourth quarter worth about $142,000. Finally, Corsair Capital Management L.P. bought a new position in shares of Liquidia Technologies in the first quarter worth about $148,000. 64.54% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Rajeev Saggar sold 20,000 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $27.85, for a total transaction of $557,000.00. Following the completion of the sale, the insider directly owned 249,727 shares of the company's stock, valued at $6,954,896.95. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raman Singh sold 7,500 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $29.42, for a total value of $220,650.00. Following the sale, the director directly owned 31,255 shares of the company's stock, valued at $919,522.10. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 835,573 shares of company stock worth $22,514,890. 26.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Bank of America dropped their price objective on Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. HC Wainwright lifted their price objective on Liquidia Technologies from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Raymond James Financial boosted their price target on Liquidia Technologies from $33.00 to $41.00 and gave the company a "strong-buy" rating in a research note on Wednesday, August 13th. Needham & Company LLC raised their price objective on Liquidia Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company boosted their price objective on Liquidia Technologies from $25.00 to $31.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $32.11.

Liquidia Technologies Price Performance

Shares of LQDA stock traded up $0.01 during trading hours on Friday, hitting $28.85. The company had a trading volume of 1,409,821 shares, compared to its average volume of 3,019,348. Liquidia Technologies, Inc. has a 12 month low of $8.75 and a 12 month high of $29.94. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -16.97 and a beta of 0.22. The firm's fifty day moving average is $20.43 and its 200 day moving average is $16.78. The company has a debt-to-equity ratio of 9.84, a quick ratio of 2.41 and a current ratio of 2.49.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $8.84 million during the quarter, compared to the consensus estimate of $3.90 million. The company's quarterly revenue was up 141.5% on a year-over-year basis. On average, sell-side analysts predict that Liquidia Technologies, Inc. will post -1.51 EPS for the current fiscal year.

Liquidia Technologies 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).