Meridian Wealth Management LLC Takes $168,000 Position in Liquidia Corporation $LQDA

Meridian Wealth Management LLC bought a new position in shares of Liquidia Corporation (NASDAQ:LQDA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,450 shares of the company’s stock, valued at approximately $168,000.

Several other hedge funds have also recently bought and sold shares of the business. Hurley Capital LLC purchased a new stake in Liquidia during the first quarter worth approximately $32,000. Quarry LP purchased a new stake in Liquidia during the 1st quarter worth $79,000. Corsair Capital Management L.P. acquired a new stake in Liquidia in the 1st quarter valued at $148,000. Aigen Investment Management LP purchased a new position in Liquidia in the first quarter valued at about $151,000. Finally, Ballentine Partners LLC lifted its stake in shares of Liquidia by 10.2% during the second quarter. Ballentine Partners LLC now owns 12,139 shares of the company’s stock worth $151,000 after purchasing an additional 1,119 shares in the last quarter. Hedge funds and other institutional investors own 64.54% of the company’s stock.

Insider Buying and Selling

In related news, CAO Dana Boyle sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $23.41, for a total value of $28,981.58. Following the sale, the chief accounting officer directly owned 185,411 shares in the company, valued at $4,340,471.51. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Kaseta sold 11,630 shares of Liquidia stock in a transaction on Monday, October 13th. The shares were sold at an average price of $23.41, for a total value of $272,258.30. Following the sale, the chief financial officer directly owned 352,646 shares in the company, valued at $8,255,442.86. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 920,522 shares of company stock valued at $25,512,207 in the last ninety days. Insiders own 30.10% of the company’s stock.

Analyst Upgrades and Downgrades

LQDA has been the subject of a number of recent research reports. Needham & Company LLC increased their target price on Liquidia from $36.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. BTIG Research reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Liquidia in a research report on Tuesday, November 4th. HC Wainwright boosted their target price on shares of Liquidia from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded shares of Liquidia from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $45.00 price target on shares of Liquidia in a research note on Monday, November 3rd. One investment 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 stock. According to MarketBeat, Liquidia currently has an average rating of “Moderate Buy” and an average target price of $38.56.

Liquidia Stock Performance

LQDA stock opened at $30.20 on Wednesday. Liquidia Corporation has a 1 year low of $9.71 and a 1 year high of $30.88. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -20.97 and a beta of 0.12. The company has a debt-to-equity ratio of 6.19, a quick ratio of 1.96 and a current ratio of 2.20. The stock’s fifty day moving average is $24.45 and its two-hundred day moving average is $20.57.

Liquidia (NASDAQ:LQDA) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.41. The business had revenue of $54.34 million for the quarter, compared to analysts’ expectations of $18.86 million. Liquidia had a negative net margin of 176.04% and a negative return on equity of 296.78%. The company’s revenue for the quarter was up 1106.7% on a year-over-year basis. On average, research analysts predict that Liquidia Corporation will post -1.51 EPS for the current year.

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).