HighVista Strategies LLC Takes Position in Liquidia Co. (NASDAQ:LQDA)

HighVista Strategies LLC purchased a new position in Liquidia Co. (NASDAQ:LQDA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 121,754 shares of the company’s stock, valued at approximately $1,461,000. HighVista Strategies LLC owned approximately 0.16% of Liquidia at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in shares of Liquidia by 19.1% during the fourth quarter. BNP Paribas Financial Markets now owns 104,933 shares of the company’s stock valued at $1,262,000 after acquiring an additional 16,843 shares in the last quarter. Trexquant Investment LP purchased a new position in Liquidia in the fourth quarter worth about $770,000. Advisory Services Network LLC raised its holdings in Liquidia by 17.9% in the fourth quarter. Advisory Services Network LLC now owns 43,535 shares of the company’s stock worth $524,000 after buying an additional 6,600 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Liquidia in the fourth quarter worth approximately $12,331,000. Finally, Kynam Capital Management LP grew its holdings in shares of Liquidia by 34.9% during the fourth quarter. Kynam Capital Management LP now owns 2,698,324 shares of the company’s stock valued at $32,461,000 after buying an additional 698,324 shares during the last quarter. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America decreased their price objective on shares of Liquidia from $24.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of Liquidia in a research note on Monday, August 19th. Oppenheimer assumed coverage on Liquidia in a research report on Tuesday, June 25th. They set a “market perform” rating on the stock. BTIG Research decreased their target price on Liquidia from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, HC Wainwright lowered their target price on shares of Liquidia from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.14.

Liquidia Stock Performance

NASDAQ:LQDA opened at $9.95 on Monday. The stock has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $12.53. Liquidia Co. has a 52-week low of $5.71 and a 52-week high of $16.99. The firm has a market capitalization of $760.32 million, a PE ratio of -6.38 and a beta of 0.22.

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

Insider Transactions at Liquidia

In related news, CFO Michael Kaseta sold 3,906 shares of Liquidia stock in a transaction on Friday, July 12th. The shares were 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 in the company, valued at approximately $3,914,234.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Roger Jeffs sold 8,053 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 $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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Kaseta sold 3,906 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $12.53, for a total value of $48,942.18. Following the completion of the transaction, the chief financial officer now directly owns 312,389 shares in the company, valued at $3,914,234.17. The disclosure for this sale can be found here. Insiders sold a total of 21,422 shares of company stock valued at $256,998 over the last three months. Corporate insiders own 31.60% of the company’s stock.

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).