Liquidia (NASDAQ:LQDA) Shares Gap Down - What's Next?

Liquidia Co. (NASDAQ:LQDA - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $18.02, but opened at $14.65. Liquidia shares last traded at $14.03, with a volume of 3,223,525 shares changing hands.

Wall Street Analyst Weigh In

LQDA has been the topic of several recent research reports. Wall Street Zen upgraded Liquidia from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Bank of America decreased their price target on Liquidia from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Wednesday. HC Wainwright raised their price target on Liquidia from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Oppenheimer set a $13.00 price target on Liquidia and gave the company an "underperform" rating in a report on Monday, May 19th. Finally, Raymond James raised their target price on Liquidia from $27.00 to $29.00 and gave the stock a "strong-buy" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $26.89.

Liquidia Stock Down 2.4%

The stock has a market cap of $1.21 billion, a P/E ratio of -8.65 and a beta of 0.04. The stock has a fifty day simple moving average of $15.16 and a 200-day simple moving average of $14.13.

Liquidia (NASDAQ:LQDA - Get Free Report) last released 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 business had revenue of $3.12 million for the quarter, compared to analyst estimates of $3.23 million. Liquidia had a negative return on equity of 163.21% and a negative net margin of 765.38%. Sell-side analysts anticipate that Liquidia Co. will post -1.51 earnings per share for the current year.

Insider Transactions at Liquidia

In other news, General Counsel Russell Schundler sold 5,964 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $13.57, for a total transaction of $80,931.48. Following the sale, the general counsel now owns 570,301 shares of the company's stock, valued at $7,738,984.57. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rajeev Saggar sold 2,450 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $13.67, for a total value of $33,491.50. Following the sale, the insider now directly owns 263,152 shares in the company, valued at approximately $3,597,287.84. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,138 shares of company stock valued at $450,233 over the last 90 days. 26.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Liquidia

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Corebridge Financial Inc. raised its position in Liquidia by 2.3% in the 4th quarter. Corebridge Financial Inc. now owns 31,516 shares of the company's stock valued at $371,000 after buying an additional 694 shares during the last quarter. GAMMA Investing LLC raised its position in Liquidia by 65.6% in the 1st quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock valued at $44,000 after buying an additional 1,173 shares during the last quarter. Cetera Investment Advisers raised its position in Liquidia by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 31,243 shares of the company's stock valued at $367,000 after buying an additional 1,277 shares during the last quarter. Valmark Advisers Inc. raised its position in Liquidia by 7.4% in the 1st quarter. Valmark Advisers Inc. now owns 18,641 shares of the company's stock valued at $275,000 after buying an additional 1,283 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in Liquidia by 6.4% in the 1st quarter. Bleakley Financial Group LLC now owns 25,308 shares of the company's stock valued at $373,000 after buying an additional 1,523 shares during the last quarter. Institutional investors and hedge funds own 64.54% of the company's stock.

About Liquidia

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).