Bank of New York Mellon Corp Raises Holdings in Liquidia Co. (NASDAQ:LQDA)

Bank of New York Mellon Corp increased its holdings in Liquidia Co. (NASDAQ:LQDA) by 18.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,961 shares of the company’s stock after buying an additional 32,076 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Liquidia worth $2,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Patient Square Capital LP purchased a new position in shares of Liquidia in the 1st quarter valued at $105,942,000. Vanguard Group Inc. raised its holdings in Liquidia by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,887,274 shares of the company’s stock worth $42,587,000 after purchasing an additional 43,352 shares in the last quarter. Kynam Capital Management LP raised its holdings in Liquidia by 34.9% in the fourth quarter. Kynam Capital Management LP now owns 2,698,324 shares of the company’s stock worth $32,461,000 after purchasing an additional 698,324 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Liquidia during the first quarter valued at about $30,311,000. Finally, Vestal Point Capital LP bought a new stake in shares of Liquidia in the 4th quarter valued at about $12,331,000. Hedge funds and other institutional investors own 64.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on LQDA. Oppenheimer started coverage on shares of Liquidia in a research note on Tuesday, June 25th. They set a “market perform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of Liquidia in a research report on Monday, August 19th. Raymond James raised Liquidia from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 19th. HC Wainwright dropped their target price on Liquidia from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Bank of America decreased their price target on Liquidia from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.14.

Insider Buying and Selling

In other Liquidia news, CFO Michael Kaseta sold 3,906 shares of Liquidia stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $12.53, for a total transaction of $48,942.18. Following the completion of the sale, the chief financial officer now directly owns 312,389 shares in the company, valued at approximately $3,914,234.17. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Michael Kaseta sold 3,906 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $12.53, for a total value of $48,942.18. Following the sale, the chief financial officer now owns 312,389 shares in the company, valued at $3,914,234.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Roger Jeffs sold 8,053 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $12.53, for a total transaction of $100,904.09. Following the transaction, the chief executive officer now owns 818,932 shares of the company’s stock, valued at $10,261,217.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,422 shares of company stock worth $256,998. 31.60% of the stock is owned by company insiders.

Liquidia Price Performance

NASDAQ LQDA opened at $10.00 on Tuesday. The company has a market cap of $764.14 million, a price-to-earnings ratio of -6.41 and a beta of 0.22. The stock’s fifty day moving average price is $10.95 and its 200 day moving average price is $12.64. Liquidia Co. has a 1 year low of $5.71 and a 1 year high of $16.99.

Liquidia (NASDAQ:LQDA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). Liquidia had a negative net margin of 755.46% and a negative return on equity of 183.57%. The firm had revenue of $3.66 million during the quarter, compared to analyst estimates of $7.92 million. Research analysts expect that Liquidia Co. will post -1.69 earnings per share for the current year.

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).