Liquidia (NASDAQ:LQDA) Stock Price Down 4% - Here's What Happened

Liquidia Co. (NASDAQ:LQDA - Get Free Report)'s stock price fell 4% on Tuesday . The stock traded as low as $13.81 and last traded at $13.67. 770,893 shares changed hands during trading, a decline of 20% from the average session volume of 959,814 shares. The stock had previously closed at $14.23.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Scotiabank reissued an "outperform" rating on shares of Liquidia in a report on Thursday, March 20th. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price target on shares of Liquidia in a research report on Thursday, April 10th. Finally, HC Wainwright reissued a "buy" rating and set a $29.00 price objective on shares of Liquidia in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $26.63.

Liquidia Price Performance

The stock has a market cap of $1.34 billion, a PE ratio of -9.57 and a beta of 0.23. The company has a 50-day simple moving average of $14.21 and a 200-day simple moving average of $12.97.

Liquidia (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.08). Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. The company had revenue of $2.92 million during the quarter, compared to analyst estimates of $4.60 million. On average, equities analysts expect that Liquidia Co. will post -1.51 EPS for the current fiscal year.

Insider Activity at Liquidia

In other news, CEO Roger Jeffs sold 14,130 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $13.57, for a total transaction of $191,744.10. Following the completion of the transaction, the chief executive officer now directly owns 1,006,420 shares of the company's stock, valued at $13,657,119.40. This trade represents a 1.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Adair sold 1,856 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $25,185.92. Following the completion of the sale, the insider now directly owns 184,304 shares in the company, valued at approximately $2,501,005.28. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,138 shares of company stock valued at $450,233 in the last ninety days. Corporate insiders own 30.10% of the company's stock.

Institutional Investors Weigh In On Liquidia

A number of hedge funds and other institutional investors have recently modified their holdings of LQDA. Bleakley Financial Group LLC raised its holdings 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 acquiring an additional 1,523 shares during the last quarter. Significant Wealth Partners LLC increased its stake in shares of Liquidia by 14.1% during the 1st quarter. Significant Wealth Partners LLC now owns 14,396 shares of the company's stock valued at $212,000 after acquiring an additional 1,780 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Liquidia by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 194,131 shares of the company's stock worth $2,863,000 after acquiring an additional 5,547 shares during the period. Valmark Advisers Inc. boosted its position in shares of Liquidia by 7.4% in the first quarter. Valmark Advisers Inc. now owns 18,641 shares of the company's stock worth $275,000 after acquiring an additional 1,283 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Liquidia in the first quarter valued at approximately $911,000. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Liquidia Company 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).