Caligan Partners LP Sells 2,242,353 Shares of Liquidia Co. (NASDAQ:LQDA)

Caligan Partners LP trimmed its position in shares of Liquidia Co. (NASDAQ:LQDA - Free Report) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,118,592 shares of the company's stock after selling 2,242,353 shares during the quarter. Liquidia makes up about 25.7% of Caligan Partners LP's investment portfolio, making the stock its biggest position. Caligan Partners LP owned 10.57% of Liquidia worth $81,186,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of Liquidia in the second quarter valued at about $27,000. Hilltop National Bank acquired a new stake in Liquidia in the 2nd quarter valued at about $33,000. Clear Harbor Asset Management LLC acquired a new position in shares of Liquidia during the third quarter worth approximately $100,000. Signaturefd LLC boosted its position in Liquidia by 38,400.0% in the 3rd quarter. Signaturefd LLC now owns 10,010 shares of the company's stock valued at $100,000 after buying an additional 9,984 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in Liquidia in the third quarter valued at about $110,000. Institutional investors and hedge funds own 64.54% of the company's stock.

Liquidia Stock Performance

LQDA stock traded down $0.06 during mid-day trading on Friday, hitting $11.55. 403,640 shares of the company were exchanged, compared to its average volume of 788,983. Liquidia Co. has a 1-year low of $6.82 and a 1-year high of $16.99. The firm's 50 day simple moving average is $10.73 and its 200 day simple moving average is $11.35. The firm has a market cap of $977.59 million, a P/E ratio of -7.09 and a beta of 0.21.

Insider Buying and Selling

In other news, General Counsel Russell Schundler sold 2,576 shares of Liquidia stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $11.11, for a total value of $28,619.36. Following the sale, the general counsel now directly owns 486,048 shares in the company, valued at $5,399,993.28. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajeev Saggar sold 2,260 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $11.11, for a total transaction of $25,108.60. Following the transaction, the insider now owns 207,383 shares of the company's stock, valued at $2,304,025.13. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,551 shares of company stock worth $236,021 over the last ninety days. Company insiders own 30.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LQDA. Scotiabank initiated coverage on shares of Liquidia in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $30.00 price objective on the stock. Lifesci Capital started coverage on Liquidia in a research note on Thursday, October 3rd. They set an "outperform" rating and a $30.00 price objective for the company. Bank of America cut their target price on Liquidia from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, August 20th. HC Wainwright restated a "buy" rating and set a $29.00 target price on shares of Liquidia in a research report on Thursday, November 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price target on shares of Liquidia in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Liquidia has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

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).