Liquidia (NASDAQ:LQDA) Insider Jason Adair Sells 7,863 Shares of Stock

Key Points

• Liquidia insider Jason Adair sold 7,863 shares on July 13 at an average price of $71.51, worth about $562,283. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
• LQDA shares rose 7.4% in Tuesday trading to $76.49, near the stock’s 52-week high of $82.96. The company now has a market cap of about $6.8 billion.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $68.88. Recent calls included BTIG raising its target to $109 and Bank of America lifting its objective to $79.

Liquidia Corporation (NASDAQ:LQDA - Get Free Report) insider Jason Adair sold 7,863 shares of the stock in a transaction on Monday, July 13th. The shares were sold at an average price of $71.51, for a total value of $562,283.13. Following the sale, the insider directly owned 217,126 shares in the company, valued at approximately $15,526,680.26. The trade was a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jason Adair also recently made the following trade(s):

• On Monday, April 27th, Jason Adair sold 688 shares of Liquidia stock. The shares were sold at an average price of $41.65, for a total transaction of $28,655.20.

Liquidia Trading Up 7.4%

Shares of Liquidia stock traded up $5.28 during mid-day trading on Tuesday, hitting $76.49. 1,153,916 shares of the stock were exchanged, compared to its average volume of 2,219,263. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 546.40 and a beta of 0.55. Liquidia Corporation has a twelve month low of $14.04 and a twelve month high of $82.96. The company has a current ratio of 2.22, a quick ratio of 2.03 and a debt-to-equity ratio of 1.18. The company has a 50-day simple moving average of $66.37 and a 200 day simple moving average of $47.52.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.11. The business 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 business's revenue was up 4187.1% compared to the same quarter last year. Research analysts forecast that Liquidia Corporation will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LQDA. BTIG Research lifted their target price on Liquidia from $59.00 to $109.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Bank of America restated a "neutral" rating and issued a $79.00 price objective (up from $64.00) on shares of Liquidia in a report on Monday, June 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Liquidia in a research note on Tuesday, April 21st. Oppenheimer set a $75.00 target price on Liquidia in a report on Friday, June 5th. Finally, Zacks Research raised shares of Liquidia from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Liquidia currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LQDA. Farallon Capital Management LLC boosted its position in shares of Liquidia by 102.1% in the third quarter. Farallon Capital Management LLC now owns 8,565,638 shares of the company's stock worth $194,783,000 after buying an additional 4,326,876 shares during the period. TCG Crossover Management LLC purchased a new stake in shares of Liquidia during the 3rd quarter valued at about $38,887,000. MPM Bioimpact LLC raised its holdings in shares of Liquidia by 600.4% during the 4th quarter. MPM Bioimpact LLC now owns 1,400,869 shares of the company's stock valued at $48,316,000 after buying an additional 1,200,869 shares during the period. Voloridge Investment Management LLC acquired a new position in Liquidia during the 3rd quarter worth approximately $12,571,000. Finally, Bank of America Corp DE lifted its position in Liquidia by 18.7% during the 1st quarter. Bank of America Corp DE now owns 2,287,792 shares of the company's stock worth $86,341,000 after acquiring an additional 360,372 shares in the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

About Liquidia

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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