Liquidia (NASDAQ:LQDA) Shares Gap Down – Here’s What Happened

Liquidia Co. (NASDAQ:LQDA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $11.10, but opened at $10.70. Liquidia shares last traded at $10.94, with a volume of 79,792 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LQDA shares. Bank of America reduced their price target on shares of Liquidia from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. HC Wainwright reduced their target price on Liquidia from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. BTIG Research lowered their price target on Liquidia from $29.00 to $25.00 and set a “buy” rating for the company in a report on Monday, August 19th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of Liquidia in a research report on Monday, August 19th. Finally, Oppenheimer initiated coverage on shares of Liquidia in a research report on Tuesday, June 25th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Liquidia Stock Performance

The company has a market capitalization of $851.22 million, a price-to-earnings ratio of -7.06 and a beta of 0.22. The firm has a 50-day simple moving average of $10.39 and a two-hundred day simple moving average of $12.07.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $3.66 million during the quarter, compared to analyst estimates of $7.92 million. Liquidia had a negative net margin of 755.46% and a negative return on equity of 183.57%. As a group, equities analysts forecast that Liquidia Co. will post -1.69 EPS for the current fiscal year.

Insider Transactions at Liquidia

In related news, Director Caligan Partners Lp bought 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of $9.51 per share, for a total transaction of $1,426,500.00. Following the completion of the acquisition, the director now owns 6,994,997 shares in the company, valued at approximately $66,522,421.47. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 5,950 shares of company stock valued at $63,134. 30.10% of the stock is currently owned by company insiders.

Institutional Trading of Liquidia

Several hedge funds have recently added to or reduced their stakes in LQDA. Bluefin Capital Management LLC purchased a new stake in shares of Liquidia in the 4th quarter valued at approximately $302,000. Principal Financial Group Inc. increased its holdings in Liquidia by 112.3% in the first quarter. Principal Financial Group Inc. now owns 36,462 shares of the company’s stock valued at $538,000 after buying an additional 19,288 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Liquidia by 119.4% in the first quarter. BNP Paribas Financial Markets now owns 230,248 shares of the company’s stock valued at $3,396,000 after buying an additional 125,315 shares in the last quarter. Catalina Capital Group LLC lifted its holdings in Liquidia by 101.8% during the 1st quarter. Catalina Capital Group LLC now owns 21,416 shares of the company’s stock worth $316,000 after buying an additional 10,801 shares during the last quarter. Finally, Swiss National Bank acquired a new position in shares of Liquidia during the 1st quarter worth about $1,325,000. Institutional investors and hedge funds own 64.54% of the company’s stock.

About Liquidia

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).