Liquidia (NASDAQ:LQDA) CFO Michael Kaseta Sells 139,390 Shares

Key Points

• CFO Michael Kaseta sold 139,390 shares on April 15 at an average price of $40.14 (about $5.595M), reducing his holding by 28.29% to 353,356 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• Kaseta also completed several other stock sales earlier in April (Apr 9–14), bringing his total April selling to roughly $12.8M.
• Liquidia recently posted an EPS beat (Q: $0.15 vs. $0.08 est.) with revenue of $92.02M (up ~3,072% YoY), its shares trade around $41.40, and analysts hold a consensus “Moderate Buy” with an average target of $43.44.

Liquidia Corporation (NASDAQ:LQDA - Get Free Report) CFO Michael Kaseta sold 139,390 shares of Liquidia stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.14, for a total transaction of $5,595,114.60. Following the completion of the transaction, the chief financial officer owned 353,356 shares of the company's stock, valued at $14,183,709.84. The trade was a 28.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Kaseta also recently made the following trade(s):

• On Tuesday, April 14th, Michael Kaseta sold 3,000 shares of Liquidia stock. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00.
• On Monday, April 13th, Michael Kaseta sold 18,958 shares of Liquidia stock. The shares were sold at an average price of $38.37, for a total transaction of $727,418.46.
• On Friday, April 10th, Michael Kaseta sold 23,821 shares of Liquidia stock. The shares were sold at an average price of $40.14, for a total transaction of $956,174.94.
• On Thursday, April 9th, Michael Kaseta sold 133,789 shares of Liquidia stock. The shares were sold at an average price of $40.24, for a total transaction of $5,383,669.36.

Liquidia Price Performance

NASDAQ:LQDA traded up $1.28 during mid-day trading on Thursday, hitting $41.40. 1,184,168 shares of the stock traded hands, compared to its average volume of 983,955. The business's 50-day moving average price is $36.63 and its 200 day moving average price is $33.14. The company has a market cap of $3.65 billion, a PE ratio of -49.88 and a beta of 0.45. Liquidia Corporation has a 12-month low of $11.85 and a 12-month high of $46.67. The company has a quick ratio of 1.84, a current ratio of 2.01 and a debt-to-equity ratio of 2.97.

Liquidia (NASDAQ:LQDA - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. Liquidia had a negative net margin of 43.53% and a negative return on equity of 209.33%. The company had revenue of $92.02 million during the quarter, compared to analysts' expectations of $87.49 million. The business's quarterly revenue was up 3072.4% on a year-over-year basis. On average, analysts expect that Liquidia Corporation will post -1.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on LQDA. Oppenheimer lifted their target price on shares of Liquidia from $16.00 to $19.00 and gave the company an "underperform" rating in a research report on Thursday, March 12th. BTIG Research boosted their price objective on shares of Liquidia from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Needham & Company LLC boosted their price objective on shares of Liquidia from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Liquidia from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Finally, Zacks Research lowered shares of Liquidia from a "strong-buy" rating to a "hold" rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.44.

Institutional Investors Weigh In On Liquidia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Liquidia during the 3rd quarter valued at $7,290,000. Caprock Group LLC purchased a new position in Liquidia during the 3rd quarter valued at $37,114,000. Farallon Capital Management LLC increased its position in Liquidia by 102.1% during the 3rd quarter. Farallon Capital Management LLC now owns 8,565,638 shares of the company's stock valued at $194,783,000 after purchasing an additional 4,326,876 shares during the period. Apis Capital Advisors LLC purchased a new position in Liquidia during the 3rd quarter valued at $9,569,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Liquidia during the 3rd quarter valued at $2,026,000. 64.54% of the stock is currently owned by institutional investors.

Liquidia Company 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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