Michael Kaseta Sells 18,958 Shares of Liquidia (NASDAQ:LQDA) Stock

Key Points

• Liquidia CFO Michael Kaseta sold 18,958 shares on April 13 at an average price of $38.37 for $727,418, executing the trade under a pre-arranged Rule 10b5-1 plan to cover tax withholding and leaving him with 405,775 shares (a 4.46% reduction).
• In total across April 9–13 Kaseta sold 176,568 shares in three transactions—including 133,789 and 23,821-share sales on April 9 and 10—amounting to roughly $7.07 million.
• Company context: Liquidia beat quarterly EPS estimates ($0.15 vs. $0.08) with sharply higher revenue, the stock trades near $38.71 (market cap ~$3.41B), and analysts hold a consensus "Moderate Buy" with an average price target of $43.44.

Liquidia Corporation (NASDAQ:LQDA - Get Free Report) CFO Michael Kaseta sold 18,958 shares of the business's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $38.37, for a total value of $727,418.46. Following the completion of the transaction, the chief financial officer directly owned 405,775 shares in the company, valued at approximately $15,569,586.75. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.

Michael Kaseta also recently made the following trade(s):

• On Friday, April 10th, Michael Kaseta sold 23,821 shares of Liquidia stock. The shares were sold at an average price of $40.14, for a total value of $956,174.94.
• On Thursday, April 9th, Michael Kaseta sold 133,789 shares of Liquidia stock. The stock was sold at an average price of $40.24, for a total value of $5,383,669.36.

Liquidia Stock Performance

Shares of NASDAQ:LQDA traded down $0.14 during midday trading on Tuesday, reaching $38.71. The company had a trading volume of 844,813 shares, compared to its average volume of 1,775,539. The stock has a market cap of $3.41 billion, a P/E ratio of -46.64 and a beta of 0.45. The company's 50 day moving average price is $36.87 and its 200 day moving average price is $32.92. The company has a current ratio of 2.01, a quick ratio of 1.84 and a debt-to-equity ratio of 2.97. Liquidia Corporation has a 52-week low of $11.85 and a 52-week high of $46.67.

Liquidia (NASDAQ:LQDA - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. The business had revenue of $92.02 million during the quarter, compared to the consensus estimate of $87.49 million. Liquidia had a negative net margin of 43.53% and a negative return on equity of 209.33%. The business's revenue for the quarter was up 3072.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Liquidia Corporation will post -1.51 EPS for the current fiscal year.

Institutional Trading of Liquidia

Several hedge funds and other institutional investors have recently modified their holdings of LQDA. Farallon Capital Management LLC lifted its stake in shares of Liquidia by 102.1% during the 3rd quarter. Farallon Capital Management LLC now owns 8,565,638 shares of the company's stock valued at $194,783,000 after buying an additional 4,326,876 shares in the last quarter. TCG Crossover Management LLC bought a new stake in Liquidia during the 3rd quarter valued at $38,887,000. Caprock Group LLC bought a new stake in Liquidia during the 3rd quarter valued at $37,114,000. MPM Bioimpact LLC lifted its position in shares of Liquidia by 600.4% during the fourth quarter. MPM Bioimpact LLC now owns 1,400,869 shares of the company's stock worth $48,316,000 after acquiring an additional 1,200,869 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Liquidia during the third quarter worth $12,571,000. Institutional investors own 64.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LQDA shares. HC Wainwright raised their price target on shares of Liquidia from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, March 6th. Wells Fargo & Company upped their price objective on Liquidia from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. Oppenheimer increased their price objective on Liquidia from $16.00 to $19.00 and gave the company an "underperform" rating in a report on Thursday, March 12th. BTIG Research raised their target price on Liquidia from $49.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Finally, Jefferies Financial Group boosted their target price on Liquidia from $45.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.44.

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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