Rangeley Capital LLC Takes Position in Liquidia Co. (NASDAQ:LQDA)

Rangeley Capital LLC acquired a new position in Liquidia Co. (NASDAQ:LQDA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 191,000 shares of the company’s stock, valued at approximately $2,246,000. Liquidia accounts for 2.0% of Rangeley Capital LLC’s portfolio, making the stock its 15th largest holding. Rangeley Capital LLC owned approximately 0.23% of Liquidia at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Liquidia by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 3,557,296 shares of the company’s stock valued at $41,834,000 after buying an additional 115,367 shares in the last quarter. LM Advisors LLC purchased a new position in shares of Liquidia during the 4th quarter worth approximately $25,948,000. Whitefort Capital Management LP lifted its holdings in Liquidia by 119.8% in the third quarter. Whitefort Capital Management LP now owns 1,702,025 shares of the company’s stock valued at $17,020,000 after acquiring an additional 927,546 shares during the period. Geode Capital Management LLC grew its position in Liquidia by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 1,339,254 shares of the company’s stock worth $15,753,000 after buying an additional 101,597 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Liquidia by 9.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 428,570 shares of the company’s stock worth $5,040,000 after buying an additional 38,313 shares during the period. Hedge funds and other institutional investors own 64.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LQDA shares. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 target price on shares of Liquidia in a research note on Thursday, March 20th. Scotiabank restated an “outperform” rating on shares of Liquidia in a report on Thursday, March 20th. Needham & Company LLC upped their price target on shares of Liquidia from $19.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company assumed coverage on shares of Liquidia in a research note on Friday, December 20th. They issued an “overweight” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.63.

Insiders Place Their Bets

In other Liquidia news, insider Rajeev Saggar sold 2,445 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.00, for a total transaction of $31,785.00. Following the completion of the sale, the insider now directly owns 267,943 shares in the company, valued at $3,483,259. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Russell Schundler sold 16,393 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $11.78, for a total value of $193,109.54. Following the transaction, the general counsel now owns 573,478 shares in the company, valued at approximately $6,755,570.84. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,245 shares of company stock valued at $843,326 in the last quarter. 30.10% of the stock is currently owned by insiders.

Liquidia Stock Performance

Shares of NASDAQ:LQDA opened at $14.52 on Thursday. The company has a market cap of $1.24 billion, a P/E ratio of -8.91 and a beta of 0.07. The stock’s 50-day moving average is $15.17 and its 200-day moving average is $12.52. Liquidia Co. has a 52-week low of $8.26 and a 52-week high of $16.81.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The company had revenue of $2.92 million during the quarter, compared to analyst estimates of $4.60 million. Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. As a group, equities analysts predict that Liquidia Co. will post -1.51 EPS for the current year.

Liquidia 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).