Boothbay Fund Management LLC Sells 155,446 Shares of Liquidia Corporation $LQDA

Boothbay Fund Management LLC reduced its position in shares of Liquidia Corporation (NASDAQ:LQDA) by 20.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,548 shares of the company’s stock after selling 155,446 shares during the period. Liquidia comprises 0.3% of Boothbay Fund Management LLC’s investment portfolio, making the stock its 14th largest holding. Boothbay Fund Management LLC owned approximately 0.71% of Liquidia worth $21,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Liquidia during the fourth quarter worth about $25,000. NewEdge Advisors LLC acquired a new position in Liquidia in the second quarter valued at approximately $25,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Liquidia in the third quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new position in Liquidia in the third quarter valued at approximately $34,000. Finally, Covestor Ltd lifted its stake in Liquidia by 41.9% in the fourth quarter. Covestor Ltd now owns 1,216 shares of the company’s stock valued at $42,000 after buying an additional 359 shares during the period. 64.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LQDA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Liquidia in a research report on Tuesday, April 21st. Oppenheimer set a $75.00 price objective on Liquidia in a research note on Friday, June 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Liquidia in a research report on Monday, May 11th. Wall Street Zen raised Liquidia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Needham & Company LLC upped their price target on Liquidia from $54.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Liquidia presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

Insider Activity

In other news, Director Paul B. Manning sold 200,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $63.91, for a total transaction of $12,782,000.00. Following the transaction, the director directly owned 716,311 shares in the company, valued at approximately $45,779,436.01. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Kaseta sold 139,390 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.14, for a total value of $5,595,114.60. Following the transaction, the chief financial officer owned 353,356 shares in the company, valued at approximately $14,183,709.84. The trade was a 28.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 2,282,894 shares of company stock worth $128,344,713. 25.60% of the stock is currently owned by insiders.

Liquidia Stock Performance

Shares of LQDA opened at $68.65 on Thursday. The stock’s 50-day simple moving average is $51.76 and its 200 day simple moving average is $41.76. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 490.39 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.03 and a current ratio of 2.22. Liquidia Corporation has a 52-week low of $11.85 and a 52-week high of $73.22.

Liquidia (NASDAQ:LQDA) last released its quarterly earnings results on Monday, May 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.11. Liquidia had a return on equity of 46.82% and a net margin of 7.74%.The firm had revenue of $132.87 million for the quarter, compared to analysts’ expectations of $119.44 million. The business’s revenue was up 4187.1% on a year-over-year basis. Research analysts forecast that Liquidia Corporation will post 2.97 EPS for the current fiscal year.

Liquidia Company Profile

Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.

The company’s lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).