Seven Fleet Capital Management LP Takes $3.15 Million Position in Liquidia Corporation $LQDA

Seven Fleet Capital Management LP acquired a new stake in shares of Liquidia Corporation (NASDAQ:LQDA) in the fourth quarter, HoldingsChannel reports. The fund acquired 91,267 shares of the company’s stock, valued at approximately $3,148,000. Liquidia makes up about 2.4% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 4th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Farallon Capital Management LLC lifted its holdings in Liquidia by 102.1% in the third quarter. Farallon Capital Management LLC now owns 8,565,638 shares of the company’s stock worth $194,783,000 after acquiring an additional 4,326,876 shares during the last quarter. TCG Crossover Management LLC bought a new position in shares of Liquidia during the third quarter valued at approximately $38,887,000. MPM Bioimpact LLC grew its holdings 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 valued at $48,316,000 after purchasing an additional 1,200,869 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Liquidia during the 3rd quarter worth approximately $12,571,000. Finally, Apis Capital Advisors LLC acquired a new stake in shares of Liquidia during the 3rd quarter worth approximately $9,569,000. Institutional investors and hedge funds own 64.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LQDA. Needham & Company LLC boosted their price objective on Liquidia from $54.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Wells Fargo & Company increased their target price on Liquidia from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. BTIG Research raised their target price on Liquidia from $50.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liquidia in a report on Tuesday, April 21st. Finally, Oppenheimer set a $75.00 price target on shares of Liquidia in a research report on Friday, June 5th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Insider Transactions at Liquidia

In related news, CFO Michael Kaseta sold 139,390 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.14, for a total value of $5,595,114.60. Following the completion of the sale, the chief financial officer owned 353,356 shares of the company’s stock, valued at $14,183,709.84. This represents a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen M. Bloch sold 318,893 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $50.23, for a total transaction of $16,017,995.39. Following the completion of the transaction, the director owned 1,870,042 shares of the company’s stock, valued at $93,932,209.66. This represents a 14.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,282,894 shares of company stock valued at $128,344,713. 25.60% of the stock is currently owned by corporate insiders.

Liquidia Stock Performance

Shares of NASDAQ LQDA opened at $71.07 on Friday. Liquidia Corporation has a 12-month low of $11.85 and a 12-month high of $73.22. The company has a market cap of $6.32 billion, a PE ratio of 507.68 and a beta of 0.58. The stock has a 50 day simple moving average of $52.44 and a 200-day simple moving average of $42.03. The company has a current ratio of 2.22, a quick ratio of 2.03 and a debt-to-equity ratio of 1.18.

Liquidia (NASDAQ:LQDA) last posted its earnings results on Monday, May 11th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.41 by $0.11. The firm had revenue of $132.87 million for the quarter, compared to analysts’ expectations of $119.44 million. Liquidia had a return on equity of 46.82% and a net margin of 7.74%.Liquidia’s quarterly revenue was up 4187.1% on a year-over-year basis. On average, equities research analysts forecast that Liquidia Corporation will post 2.97 EPS for the current year.

Liquidia Profile

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).