Engineers Gate Manager LP Lowers Stake in Liquidia Corporation $LQDA

Engineers Gate Manager LP lowered its holdings in shares of Liquidia Corporation (NASDAQ:LQDA) by 32.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,213 shares of the company’s stock after selling 17,412 shares during the period. Engineers Gate Manager LP’s holdings in Liquidia were worth $2,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LQDA. Farallon Capital Management LLC increased its stake in shares of Liquidia by 1.1% during the fourth quarter. Farallon Capital Management LLC now owns 8,656,038 shares of the company’s stock valued at $298,547,000 after purchasing an additional 90,400 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Liquidia by 8,055.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,907,594 shares of the company’s stock worth $471,012,000 after purchasing an additional 5,835,156 shares in the last quarter. Opaleye Management Inc. boosted its position in shares of Liquidia by 9.5% in the 2nd quarter. Opaleye Management Inc. now owns 2,475,000 shares of the company’s stock worth $30,838,000 after purchasing an additional 215,000 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Liquidia by 18.7% in the 1st quarter. Bank of America Corp DE now owns 2,287,792 shares of the company’s stock worth $86,341,000 after purchasing an additional 360,372 shares in the last quarter. Finally, TCG Crossover Management LLC purchased a new stake in shares of Liquidia in the 3rd quarter worth approximately $38,887,000. Hedge funds and other institutional investors own 64.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $106.00 price objective on shares of Liquidia in a research report on Thursday, August 13th. Royal Bank Of Canada set a $130.00 target price on Liquidia in a research note on Friday, July 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Liquidia in a report on Friday, July 17th. Zacks Research lowered Liquidia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Lifesci Capital lowered Liquidia from an “outperform” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.08.

Insider Buying and Selling at Liquidia

In related news, Director Katherine Rielly-Gauvin sold 18,393 shares of Liquidia stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $72.23, for a total value of $1,328,526.39. Following the completion of the sale, the director owned 44,637 shares of the company’s stock, valued at $3,224,130.51. The trade was a 29.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen M. Bloch sold 100,000 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $89.48, for a total value of $8,948,000.00. Following the sale, the director owned 501,477 shares of the company’s stock, valued at approximately $44,872,161.96. This trade represents a 16.63% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 705,027 shares of company stock worth $54,473,044. 25.60% of the stock is owned by corporate insiders.

Liquidia Price Performance

LQDA opened at $66.74 on Monday. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $77.47 and a 200-day moving average price of $59.45. Liquidia Corporation has a twelve month low of $21.15 and a twelve month high of $93.61. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 48.72 and a beta of 0.53.

Liquidia (NASDAQ:LQDA) last issued its earnings results on Wednesday, August 12th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). Liquidia had a return on equity of 149.65% and a net margin of 30.74%.The company had revenue of $171.68 million during the quarter, compared to analysts’ expectations of $168.48 million. During the same quarter in the prior year, the business posted ($0.49) EPS. The company’s revenue for the quarter was up 1842.1% compared to the same quarter last year. Equities research analysts forecast that Liquidia Corporation will post 2.57 earnings per share for the current year.

About Liquidia

Liquidia Corporation is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious cardiopulmonary conditions, including pulmonary arterial hypertension (PAH). The company is headquartered in Research Triangle Park, North Carolina, and serves healthcare providers and patients primarily in the United States.

Liquidia’s lead product is Yutrepia, an inhaled formulation of treprostinil designed for the treatment of PAH. The company has also developed treprostinil injection products and is pursuing additional therapies for rare cardiopulmonary diseases.