CenterBook Partners LP Raises Stock Position in Liquidia Corporation $LQDA

CenterBook Partners LP increased its position in Liquidia Corporation (NASDAQ:LQDA) by 811.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,103,850 shares of the company’s stock after acquiring an additional 982,778 shares during the period. Liquidia makes up about 0.8% of CenterBook Partners LP’s investment portfolio, making the stock its 27th biggest position. CenterBook Partners LP owned approximately 1.29% of Liquidia worth $13,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LQDA. Tyro Capital Management LLC acquired a new stake in Liquidia in the second quarter valued at $15,473,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Liquidia by 446.7% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 461,248 shares of the company’s stock worth $6,803,000 after buying an additional 376,872 shares in the last quarter. Nuveen LLC acquired a new stake in Liquidia in the 1st quarter valued at about $2,642,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Liquidia by 466.7% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 170,000 shares of the company’s stock valued at $2,192,000 after acquiring an additional 140,000 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its position in Liquidia by 18.7% during the first quarter. Boothbay Fund Management LLC now owns 662,873 shares of the company’s stock worth $9,777,000 after acquiring an additional 104,215 shares during the last quarter. 64.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LQDA shares. HC Wainwright raised their price objective on shares of Liquidia from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Wells Fargo & Company assumed coverage on Liquidia in a research report on Monday, October 20th. They set an “overweight” rating and a $31.00 price target for the company. Jefferies Financial Group restated a “buy” rating and issued a $45.00 price objective on shares of Liquidia in a research report on Monday, November 3rd. BTIG Research reaffirmed a “buy” rating and set a $49.00 price objective on shares of Liquidia in a research note on Tuesday, November 4th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $47.00 target price on shares of Liquidia in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.56.

Liquidia Stock Performance

Liquidia stock opened at $29.11 on Friday. The stock has a fifty day moving average price of $24.59 and a 200 day moving average price of $20.78. Liquidia Corporation has a 52 week low of $10.02 and a 52 week high of $30.88. The firm has a market capitalization of $2.53 billion, a P/E ratio of -20.22 and a beta of 0.12. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 6.19.

Liquidia (NASDAQ:LQDA) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.41. Liquidia had a negative return on equity of 296.78% and a negative net margin of 176.04%.The company had revenue of $54.34 million during the quarter, compared to analysts’ expectations of $18.86 million. The business’s revenue for the quarter was up 1106.7% compared to the same quarter last year. Equities research analysts anticipate that Liquidia Corporation will post -1.51 earnings per share for the current year.

Insider Activity

In other news, CEO Roger Jeffs sold 20,261 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $23.41, for a total transaction of $474,310.01. Following the completion of the sale, the chief executive officer directly owned 1,032,973 shares of the company’s stock, valued at $24,181,897.93. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul B. Manning sold 328,268 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $28.78, for a total value of $9,447,553.04. Following the sale, the director owned 430,828 shares of the company’s stock, valued at approximately $12,399,229.84. The trade was a 43.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 956,178 shares of company stock valued at $26,582,956 in the last ninety days. 26.50% of the stock is owned by company insiders.

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).