Russell Schundler Sells 7,839 Shares of Liquidia Technologies (NASDAQ:LQDA) Stock

Key Points

• Russell Schundler, General Counsel of Liquidia Technologies, sold 7,839 shares of the company's stock for approximately $183,510.99, reducing his ownership by 1.34%.
• Liquidia Technologies recently reported a quarterly revenue of $8.84 million, significantly exceeding analyst estimates of $3.90 million, despite an earnings per share miss of ($0.49).
• Analysts have a consensus "Moderate Buy" rating on Liquidia Technologies with a price target of $32.38, while several firms have set higher price targets ranging from $31.00 to $43.00.

Liquidia Technologies, Inc. (NASDAQ:LQDA - Get Free Report) General Counsel Russell Schundler sold 7,839 shares of the business's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $23.41, for a total transaction of $183,510.99. Following the transaction, the general counsel owned 576,017 shares in the company, valued at approximately $13,484,557.97. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Liquidia Technologies Stock Performance

Shares of LQDA traded up $0.39 during midday trading on Wednesday, reaching $23.16. The stock had a trading volume of 1,994,182 shares, compared to its average volume of 1,944,347. The firm has a 50 day simple moving average of $25.00 and a 200-day simple moving average of $18.47. Liquidia Technologies, Inc. has a one year low of $9.71 and a one year high of $29.94. The firm has a market cap of $1.99 billion, a PE ratio of -13.62 and a beta of 0.15. The company has a current ratio of 2.49, a quick ratio of 2.41 and a debt-to-equity ratio of 9.84.

Liquidia Technologies (NASDAQ:LQDA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.06). The business had revenue of $8.84 million during the quarter, compared to analyst estimates of $3.90 million. Liquidia Technologies had a negative net margin of 732.17% and a negative return on equity of 232.96%. The firm's revenue for the quarter was up 141.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Liquidia Technologies, Inc. will post -1.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LQDA. Jefferies Financial Group began coverage on Liquidia Technologies in a report on Friday, August 15th. They set a "buy" rating and a $43.00 price objective on the stock. Raymond James Financial raised their target price on Liquidia Technologies from $33.00 to $41.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 13th. Wells Fargo & Company raised their target price on Liquidia Technologies from $25.00 to $31.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Liquidia Technologies in a research report on Wednesday, October 8th. Finally, Needham & Company LLC raised their target price on Liquidia Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.38.

Hedge Funds Weigh In On Liquidia Technologies

Several hedge funds have recently modified their holdings of the company. Bluefin Capital Management LLC purchased a new position in shares of Liquidia Technologies in the 1st quarter worth approximately $250,000. Boothbay Fund Management LLC boosted its stake in shares of Liquidia Technologies by 18.7% in the 1st quarter. Boothbay Fund Management LLC now owns 662,873 shares of the company's stock worth $9,777,000 after buying an additional 104,215 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Liquidia Technologies by 446.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 461,248 shares of the company's stock valued at $6,803,000 after purchasing an additional 376,872 shares during the last quarter. GAMMA Investing LLC lifted its stake in Liquidia Technologies by 2,342.7% in the first quarter. GAMMA Investing LLC now owns 43,675 shares of the company's stock valued at $644,000 after purchasing an additional 41,887 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Liquidia Technologies by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 194,131 shares of the company's stock valued at $2,863,000 after purchasing an additional 5,547 shares during the last quarter. Institutional investors own 64.54% of the company's stock.

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).

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