Liquidia Technologies (NASDAQ:LQDA) Director Sells $9,447,553.04 in Stock

Key Points

• Paul Manning, a director at Liquidia Technologies, sold 328,268 shares at an average price of $28.78, decreasing his ownership in the company by 43.24%.
• Liquidia Technologies reported a quarterly revenue of $8.84 million, significantly above expectations, although it missed earnings per share estimates with a report of ($0.49).
• Analysts have recently upgraded Liquidia's ratings, with price targets increasing significantly, marking the stock as a potential investment opportunity with an average consensus price target of $32.11.

Liquidia Technologies, Inc. (NASDAQ:LQDA - Get Free Report) Director Paul B. Manning sold 328,268 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $28.78, for a total transaction of $9,447,553.04. Following the completion of the sale, the director directly owned 430,828 shares of the company's stock, valued at approximately $12,399,229.84. This trade represents a 43.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Liquidia Technologies Stock Performance

LQDA traded up $0.01 on Friday, reaching $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 1 year low of $8.75 and a 1 year high of $29.94. The stock has a market capitalization of $2.48 billion, a PE ratio of -16.97 and a beta of 0.22. The company has a quick ratio of 2.41, a current ratio of 2.49 and a debt-to-equity ratio of 9.84. The stock has a 50-day moving average price of $20.43 and a 200-day moving average price of $16.78.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $3.90 million. Liquidia Technologies's revenue was up 141.5% compared to the same quarter last year. As a group, research analysts forecast that Liquidia Technologies, Inc. will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new position in Liquidia Technologies during the second quarter worth about $25,000. Hurley Capital LLC purchased a new position in Liquidia Technologies during the first quarter worth about $32,000. GAMMA Investing LLC raised its holdings in Liquidia Technologies by 65.6% during 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 in the last quarter. Quarry LP purchased a new position in Liquidia Technologies during the first quarter worth about $79,000. Finally, Steward Partners Investment Advisory LLC grew its position in Liquidia Technologies by 24.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,200 shares of the company's stock worth $77,000 after buying an additional 1,200 shares during the period. 64.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HC Wainwright upped their target price on shares of Liquidia Technologies from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Jefferies Financial Group assumed coverage on shares of Liquidia Technologies in a report on Friday, August 15th. They issued a "buy" rating and a $43.00 target price for the company. Needham & Company LLC upped their target price on shares of Liquidia Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. BTIG Research reaffirmed a "buy" rating on shares of Liquidia Technologies in a report on Tuesday, May 27th. Finally, Scotiabank upped their target price on shares of Liquidia Technologies from $36.00 to $37.00 and gave the company a "sector outperform" rating in a report on Wednesday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $32.11.

Liquidia Technologies 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).