Vestal Point Capital LP lowered its position in Liquidia Co. (NASDAQ:LQDA - Free Report) by 18.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,500,000 shares of the company's stock after selling 330,000 shares during the period. Liquidia makes up about 1.1% of Vestal Point Capital LP's investment portfolio, making the stock its 25th biggest position. Vestal Point Capital LP owned approximately 1.95% of Liquidia worth $15,000,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Liquidia by 144.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,257 shares of the company's stock valued at $3,903,000 after purchasing an additional 230,820 shares during the last quarter. Sapient Capital LLC acquired a new stake in Liquidia in the 3rd quarter valued at about $1,336,000. BNP Paribas Financial Markets increased its holdings in Liquidia by 735.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 140,190 shares of the company's stock valued at $1,402,000 after acquiring an additional 123,402 shares in the last quarter. HighVista Strategies LLC purchased a new stake in shares of Liquidia in the second quarter valued at about $1,461,000. Finally, Acuta Capital Partners LLC acquired a new stake in shares of Liquidia in the third quarter valued at approximately $735,000. 64.54% of the stock is owned by hedge funds and other institutional investors.
Liquidia Stock Performance
Liquidia stock traded down $0.06 during trading on Friday, reaching $11.55. The company had a trading volume of 403,640 shares, compared to its average volume of 972,326. Liquidia Co. has a 12-month low of $6.82 and a 12-month high of $16.99. The stock's 50 day moving average price is $10.70 and its two-hundred day moving average price is $11.37. The firm has a market capitalization of $977.59 million, a price-to-earnings ratio of -7.12 and a beta of 0.21.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on LQDA. Bank of America cut their price objective on Liquidia from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, August 20th. Needham & Company LLC restated a "buy" rating and issued a $19.00 price objective on shares of Liquidia in a research report on Thursday, November 14th. Scotiabank started coverage on Liquidia in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $30.00 price objective for the company. BTIG Research decreased their price target on shares of Liquidia from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, August 19th. Finally, Lifesci Capital began coverage on shares of Liquidia in a research report on Thursday, October 3rd. They issued an "outperform" rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Liquidia currently has an average rating of "Moderate Buy" and an average price target of $24.00.
View Our Latest Stock Report on Liquidia
Insider Transactions at Liquidia
In related news, insider Rajeev Saggar sold 2,526 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $11.19, for a total value of $28,265.94. Following the transaction, the insider now owns 204,857 shares in the company, valued at approximately $2,292,349.83. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Roger Jeffs sold 8,053 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $11.11, for a total transaction of $89,468.83. Following the sale, the chief executive officer now owns 812,193 shares of the company's stock, valued at approximately $9,023,464.23. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,551 shares of company stock worth $236,021 in the last ninety days. Insiders own 30.10% of the company's stock.
Liquidia Profile
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Free Report)
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).
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