VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Liquidia Corporation $LQDA

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Liquidia Corporation (NASDAQ:LQDA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,500 shares of the company’s stock, valued at approximately $1,236,000.

Several other institutional investors also recently modified their holdings of LQDA. California State Teachers Retirement System increased its holdings in 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. Seven Fleet Capital Management LP boosted its stake in shares of Liquidia by 25.2% during the second quarter. Seven Fleet Capital Management LP now owns 256,603 shares of the company’s stock valued at $20,459,000 after purchasing an additional 51,727 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Liquidia during the second quarter valued at about $546,000. Nykredit A S bought a new stake in shares of Liquidia during the second quarter worth about $177,000. Finally, Globeflex Capital L P bought a new stake in shares of Liquidia during the second quarter worth about $175,000. 64.54% of the stock is currently owned by institutional investors and hedge funds.

Liquidia Trading Down 1.6%

Shares of LQDA stock opened at $66.74 on Friday. Liquidia Corporation has a 1-year low of $21.15 and a 1-year high of $93.61. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.63. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 48.72 and a beta of 0.53. The stock has a 50-day moving average of $77.47 and a 200-day moving average of $59.26.

Liquidia (NASDAQ:LQDA) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $168.48 million. During the same period in the prior year, the firm earned ($0.49) earnings per share. Liquidia’s revenue was up 1842.1% compared to the same quarter last year. On average, equities research analysts forecast that Liquidia Corporation will post 2.57 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on LQDA. HC Wainwright set a $36.00 price objective on shares of Liquidia in a report on Friday, July 24th. Bank of America boosted their target price on shares of Liquidia from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Royal Bank Of Canada set a $130.00 price target on shares of Liquidia in a research report on Friday, July 24th. Lifesci Capital downgraded shares of Liquidia from an “outperform” rating to a “hold” rating and set a $90.00 price target for the company. in a research note on Wednesday, August 12th. Finally, Piper Sandler set a $129.00 price target on shares of Liquidia in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Liquidia has a consensus rating of “Hold” and an average price target of $98.08.

Insider Activity

In other news, insider Jason Adair sold 73,631 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $69.09, for a total value of $5,087,165.79. Following the transaction, the insider owned 174,606 shares in the company, valued at approximately $12,063,528.54. The trade was a 29.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Bloch sold 100,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $75.74, for a total transaction of $7,574,000.00. Following the completion of the sale, the director directly owned 880,073 shares in the company, valued at approximately $66,656,729.02. This represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 790,089 shares of company stock worth $60,549,874. 25.60% of the stock is owned by insiders.

Liquidia Company Profile

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.