Velan Capital Investment Management LP Cuts Stock Position in Liquidia Corporation $LQDA

Velan Capital Investment Management LP lessened its holdings in Liquidia Corporation (NASDAQ:LQDA) by 20.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,260 shares of the company’s stock after selling 60,740 shares during the quarter. Liquidia accounts for 2.9% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 13th largest position. Velan Capital Investment Management LP owned approximately 0.28% of Liquidia worth $2,981,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Liquidia by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,405,747 shares of the company’s stock worth $17,517,000 after buying an additional 32,499 shares during the last quarter. Tyro Capital Management LLC bought a new stake in Liquidia in the second quarter worth about $15,473,000. CenterBook Partners LP raised its position in Liquidia by 811.7% in the second quarter. CenterBook Partners LP now owns 1,103,850 shares of the company’s stock worth $13,754,000 after acquiring an additional 982,778 shares during the period. Goldman Sachs Group Inc. boosted its stake in Liquidia by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 861,231 shares of the company’s stock valued at $12,703,000 after acquiring an additional 82,955 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its position in shares of Liquidia by 18.7% during the 1st quarter. Boothbay Fund Management LLC now owns 662,873 shares of the company’s stock valued at $9,777,000 after acquiring an additional 104,215 shares during the period. 64.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Liquidia

In other news, insider Jason Adair sold 35,656 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $30.03, for a total transaction of $1,070,749.68. Following the completion of the transaction, the insider directly owned 174,998 shares in the company, valued at $5,255,189.94. The trade was a 16.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raman Singh sold 45,524 shares of Liquidia stock in a transaction on Monday, September 15th. The shares were sold at an average price of $25.81, for a total value of $1,174,974.44. Following the sale, the director directly owned 31,255 shares of the company’s stock, valued at $806,691.55. This represents a 59.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 215,168 shares of company stock worth $5,675,425. 30.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on LQDA. BTIG Research reaffirmed a “buy” rating and issued a $49.00 price target on shares of Liquidia in a report on Tuesday, November 4th. Wells Fargo & Company began coverage on Liquidia in a research report on Monday, October 20th. They issued an “overweight” rating and a $31.00 target price for the company. HC Wainwright upped their price target on Liquidia from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Needham & Company LLC lifted their price objective on Liquidia from $36.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Liquidia from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.56.

Liquidia Stock Down 2.8%

LQDA stock opened at $34.04 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 6.19. The firm has a market capitalization of $2.96 billion, a PE ratio of -23.64 and a beta of 0.48. Liquidia Corporation has a twelve month low of $10.37 and a twelve month high of $35.54. The stock has a 50-day simple moving average of $26.76 and a two-hundred day simple moving average of $22.19.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.41. The firm had revenue of $54.34 million for the quarter, compared to the consensus estimate of $18.86 million. Liquidia had a negative net margin of 176.04% and a negative return on equity of 296.78%. The firm’s revenue was up 1106.7% on a year-over-year basis. On average, equities analysts predict that Liquidia Corporation will post -1.51 EPS for the current fiscal year.

Liquidia Company Profile

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).