Liquidia (NASDAQ:LQDA) Stock Price Down 4.2% - Should You Sell?

Liquidia Co. (NASDAQ:LQDA - Get Free Report)'s stock price was down 4.2% during mid-day trading on Friday . The company traded as low as $10.83 and last traded at $11.00. Approximately 206,078 shares changed hands during trading, a decline of 79% from the average daily volume of 972,067 shares. The stock had previously closed at $11.48.

Analyst Ratings Changes

LQDA has been the subject of several research reports. BTIG Research decreased their price objective on shares of Liquidia from $29.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, August 19th. Needham & Company LLC restated a "buy" rating and set a $19.00 target price on shares of Liquidia in a report on Thursday, November 14th. Raymond James raised shares of Liquidia from an "outperform" rating to a "strong-buy" rating in a research report on Monday, August 19th. HC Wainwright reissued a "buy" rating and issued a $29.00 price objective on shares of Liquidia in a research report on Thursday, November 14th. Finally, Scotiabank initiated coverage on Liquidia in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Liquidia Price Performance

The business's 50-day moving average price is $10.84 and its two-hundred day moving average price is $11.30. The firm has a market cap of $931.89 million, a price-to-earnings ratio of -6.75 and a beta of 0.22.

Insider Buying and Selling at Liquidia

In other Liquidia news, insider Rajeev Saggar sold 2,260 shares of the 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 $25,108.60. Following the transaction, the insider now owns 207,383 shares of the company's stock, valued at $2,304,025.13. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Roger Jeffs sold 8,053 shares of Liquidia stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $11.11, for a total value of $89,468.83. Following the completion of the transaction, the chief executive officer now owns 812,193 shares of the company's stock, valued at approximately $9,023,464.23. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,007 shares of company stock worth $245,780 in the last ninety days. 30.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LQDA. California State Teachers Retirement System raised its stake in Liquidia by 491.2% during the first quarter. California State Teachers Retirement System now owns 46,181 shares of the company's stock worth $681,000 after acquiring an additional 38,369 shares during the period. Whitefort Capital Management LP grew its holdings in shares of Liquidia by 119.8% during the third quarter. Whitefort Capital Management LP now owns 1,702,025 shares of the company's stock valued at $17,020,000 after purchasing an additional 927,546 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Liquidia in the 2nd quarter worth approximately $545,000. Sapient Capital LLC bought a new stake in shares of Liquidia in the 3rd quarter worth approximately $1,336,000. Finally, HighVista Strategies LLC acquired a new position in Liquidia during the 2nd quarter valued at approximately $1,461,000. 64.54% of the stock is currently owned by institutional investors.

About Liquidia

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).