Rhumbline Advisers Has $962,000 Stake in Liquidia Co. (NASDAQ:LQDA)

Rhumbline Advisers increased its position in Liquidia Co. (NASDAQ:LQDA) by 12.4% in the second quarter, HoldingsChannel reports. The firm owned 80,164 shares of the company’s stock after acquiring an additional 8,871 shares during the period. Rhumbline Advisers’ holdings in Liquidia were worth $962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in Liquidia in the 2nd quarter worth approximately $33,000. Deuterium Capital Management LLC acquired a new stake in shares of Liquidia during the 2nd quarter valued at $120,000. DMC Group LLC acquired a new stake in shares of Liquidia during the 2nd quarter valued at $122,000. Whitcomb & Hess Inc. acquired a new stake in shares of Liquidia during the 2nd quarter valued at $126,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Liquidia by 398.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,039 shares of the company’s stock valued at $156,000 after buying an additional 10,421 shares during the period. Institutional investors and hedge funds own 64.54% of the company’s stock.

Liquidia Price Performance

Shares of LQDA opened at $9.95 on Monday. The company has a market capitalization of $760.32 million, a PE ratio of -6.38 and a beta of 0.22. Liquidia Co. has a one year low of $5.71 and a one year high of $16.99. The company’s fifty day moving average price is $10.75 and its 200 day moving average price is $12.53.

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

Insider Buying and Selling

In other news, Director Caligan Partners Lp bought 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average price of $9.51 per share, for a total transaction of $1,426,500.00. Following the acquisition, the director now directly owns 6,994,997 shares of the company’s stock, valued at approximately $66,522,421.47. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Caligan Partners Lp acquired 150,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were bought at an average price of $9.51 per share, for a total transaction of $1,426,500.00. Following the acquisition, the director now owns 6,994,997 shares in the company, valued at approximately $66,522,421.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Kaseta sold 3,906 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $12.53, for a total transaction of $48,942.18. Following the transaction, the chief financial officer now owns 312,389 shares in the company, valued at approximately $3,914,234.17. The disclosure for this sale can be found here. Insiders have sold 21,422 shares of company stock worth $256,998 in the last quarter. 31.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LQDA has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Liquidia in a research note on Monday, August 19th. Raymond James raised shares of Liquidia from an “outperform” rating to a “strong-buy” rating in a research note on Monday, August 19th. Oppenheimer assumed coverage on shares of Liquidia in a research note on Tuesday, June 25th. They set a “market perform” rating for the company. BTIG Research reduced 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. Finally, Bank of America reduced their price objective on shares of Liquidia from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.14.

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).