Liquidia (NASDAQ:LQDA) Trading Down 5% – Here’s Why

Liquidia Corporation (NASDAQ:LQDA) shares traded down 5% during mid-day trading on Friday . The stock traded as low as $33.57 and last traded at $33.2860. 116,169 shares traded hands during trading, a decline of 94% from the average session volume of 2,104,083 shares. The stock had previously closed at $35.05.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Liquidia from $36.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen lowered shares of Liquidia from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. BTIG Research reiterated a “buy” rating and set a $49.00 price objective on shares of Liquidia in a research report on Friday, January 9th. HC Wainwright increased their price objective on Liquidia from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Jefferies Financial Group lifted 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 research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.67.

Liquidia Stock Performance

The company has a debt-to-equity ratio of 6.19, a current ratio of 2.20 and a quick ratio of 1.96. The firm has a market capitalization of $2.92 billion, a PE ratio of -23.33, a P/E/G ratio of 0.94 and a beta of 0.46. The firm has a fifty day moving average price of $37.56 and a 200 day moving average price of $30.30.

Insiders Place Their Bets

In other Liquidia news, insider Rajeev Saggar sold 21,142 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $37.43, for a total transaction of $791,345.06. Following the sale, the insider directly owned 176,883 shares of the company’s stock, valued at $6,620,730.69. The trade was a 10.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell Schundler sold 27,289 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $37.43, for a total value of $1,021,427.27. Following the completion of the sale, the general counsel directly owned 579,394 shares of the company’s stock, valued at approximately $21,686,717.42. This trade represents a 4.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 216,820 shares of company stock valued at $8,102,685 over the last 90 days. 26.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Liquidia

Several hedge funds have recently bought and sold shares of the business. Covestor Ltd grew its stake in Liquidia by 41.9% during the 4th quarter. Covestor Ltd now owns 1,216 shares of the company’s stock valued at $42,000 after acquiring an additional 359 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Liquidia by 7.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,304 shares of the company’s stock worth $217,000 after purchasing an additional 422 shares during the period. Whitcomb & Hess Inc. grew its position in Liquidia by 2.0% during the third quarter. Whitcomb & Hess Inc. now owns 28,385 shares of the company’s stock valued at $645,000 after purchasing an additional 558 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Liquidia during the fourth quarter valued at approximately $25,000. Finally, ProShare Advisors LLC increased its stake in Liquidia by 7.1% in the 4th quarter. ProShare Advisors LLC now owns 11,756 shares of the company’s stock valued at $405,000 after buying an additional 775 shares during the period. 64.54% of the stock is owned by hedge funds and other institutional investors.

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).