Liquidia Technologies (NASDAQ:LQDA) Trading Down 4.4% - Here's What Happened

Liquidia Technologies, Inc. (NASDAQ:LQDA - Get Free Report) dropped 4.4% during trading on Wednesday . The stock traded as low as $13.13 and last traded at $13.18. Approximately 194,006 shares were traded during trading, a decline of 84% from the average daily volume of 1,219,174 shares. The stock had previously closed at $13.78.

Analyst Upgrades and Downgrades

LQDA has been the subject of several research reports. Bank of America reduced their price target on shares of Liquidia Technologies from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Scotiabank upped their price target on shares of Liquidia Technologies from $36.00 to $37.00 and gave the company a "sector outperform" rating in a research report on Wednesday, May 28th. Raymond James Financial upped their price target on shares of Liquidia Technologies from $27.00 to $29.00 and gave the company a "strong-buy" rating in a research report on Friday, May 9th. BTIG Research reiterated a "buy" rating on shares of Liquidia Technologies in a research note on Tuesday, May 27th. Finally, Wall Street Zen raised shares of Liquidia Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.89.

Liquidia Technologies Stock Up 2.1%

The company has a current ratio of 2.93, a quick ratio of 2.91 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $1.12 billion, a P/E ratio of -8.29 and a beta of 0.04. The company has a 50 day simple moving average of $15.22 and a two-hundred day simple moving average of $14.30.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). Liquidia Technologies had a negative return on equity of 177.91% and a negative net margin of 903.80%. The business had revenue of $3.12 million during the quarter, compared to the consensus estimate of $3.23 million. On average, equities analysts predict that Liquidia Technologies, Inc. will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $13.57, for a total value of $191,744.10. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rajeev Saggar sold 2,450 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $13.67, for a total value of $33,491.50. Following the completion of the sale, the insider now owns 263,152 shares of the company's stock, valued at approximately $3,597,287.84. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,138 shares of company stock worth $450,233 in the last three months. 26.50% of the stock is owned by company insiders.

Institutional Trading of Liquidia Technologies

Institutional investors have recently bought and sold shares of the stock. Hurley Capital LLC bought a new stake in Liquidia Technologies in the first quarter worth $32,000. GAMMA Investing LLC lifted its position in Liquidia Technologies by 65.6% in the first quarter. GAMMA Investing LLC now owns 2,961 shares of the company's stock worth $44,000 after buying an additional 1,173 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Liquidia Technologies during the fourth quarter worth $59,000. Quarry LP bought a new stake in shares of Liquidia Technologies during the first quarter worth $79,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Liquidia Technologies by 35.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company's stock worth $78,000 after purchasing an additional 1,719 shares during the last quarter. 64.54% of the stock is currently owned by institutional investors.

About Liquidia Technologies

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).