Liquidia (NASDAQ:LQDA) Shares Gap Down After Analyst Downgrade

Liquidia Co. (NASDAQ:LQDA) gapped down before the market opened on Monday after HC Wainwright lowered their price target on the stock from $32.00 to $29.00. The stock had previously closed at $14.11, but opened at $8.95. HC Wainwright currently has a buy rating on the stock. Liquidia shares last traded at $8.70, with a volume of 4,543,222 shares.

Other research analysts have also issued reports about the stock. Raymond James raised shares of Liquidia from an “outperform” rating to a “strong-buy” rating in a research note on Monday. Oppenheimer initiated coverage on shares of Liquidia in a report on Tuesday, June 25th. They issued a “market perform” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of Liquidia in a report on Monday. Bank of America lowered their target price on shares of Liquidia from $24.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday. Finally, BTIG Research lowered their target price on shares of Liquidia from $29.00 to $25.00 and set a “buy” rating for the company in a report on Monday. 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 one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Liquidia has an average rating of “Moderate Buy” and a consensus target price of $23.14.

Insider Buying and Selling

In related news, CEO Roger Jeffs sold 8,053 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $12.53, for a total transaction of $100,904.09. Following the completion of the sale, the chief executive officer now owns 818,932 shares in the company, valued at $10,261,217.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Liquidia news, CEO Roger Jeffs sold 8,053 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $12.53, for a total transaction of $100,904.09. Following the completion of the transaction, the chief executive officer now owns 818,932 shares in the company, valued at $10,261,217.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Kaseta sold 3,906 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $12.53, for a total transaction of $48,942.18. Following the transaction, the chief financial officer now owns 312,389 shares of the company’s stock, valued at approximately $3,914,234.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,437 shares of company stock worth $268,549. Insiders own 31.60% of the company’s stock.

Hedge Funds Weigh In On Liquidia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. boosted its position in Liquidia by 5.2% during the first quarter. American International Group Inc. now owns 24,806 shares of the company’s stock worth $366,000 after purchasing an additional 1,215 shares during the period. Arizona State Retirement System boosted its position in Liquidia by 10.7% during the second quarter. Arizona State Retirement System now owns 13,842 shares of the company’s stock worth $166,000 after purchasing an additional 1,341 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Liquidia by 6.6% in the first quarter. Bleakley Financial Group LLC now owns 33,250 shares of the company’s stock valued at $490,000 after acquiring an additional 2,057 shares during the period. Quest Partners LLC bought a new position in shares of Liquidia in the second quarter valued at approximately $27,000. Finally, Hilltop National Bank bought a new position in shares of Liquidia in the second quarter valued at approximately $33,000. Institutional investors own 64.54% of the company’s stock.

Liquidia Stock Down 1.9 %

The business’s 50-day moving average price is $12.06 and its 200 day moving average price is $13.29. The company has a market capitalization of $733.57 million, a P/E ratio of -6.15 and a beta of 0.32.

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).