Alpine Global Management LLC Buys 50,000 Shares of Liquidia Co. (NASDAQ:LQDA)

Alpine Global Management LLC lifted its stake in shares of Liquidia Co. (NASDAQ:LQDA) by 50.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 150,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Alpine Global Management LLC’s holdings in Liquidia were worth $1,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in Liquidia in the 4th quarter worth approximately $59,000. Summit Investment Advisors Inc. boosted its stake in shares of Liquidia by 35.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,632 shares of the company’s stock valued at $78,000 after purchasing an additional 1,719 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Liquidia in the 4th quarter valued at $154,000. KLP Kapitalforvaltning AS bought a new position in shares of Liquidia during the 4th quarter valued at $169,000. Finally, Arizona State Retirement System lifted its stake in Liquidia by 20.3% in the fourth quarter. Arizona State Retirement System now owns 15,888 shares of the company’s stock worth $187,000 after purchasing an additional 2,685 shares during the last quarter. 64.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Liquidia news, CFO Michael Kaseta sold 8,283 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $112,400.31. Following the sale, the chief financial officer now owns 396,315 shares in the company, valued at approximately $5,377,994.55. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell Schundler sold 5,964 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $13.57, for a total value of $80,931.48. Following the transaction, the general counsel now directly owns 570,301 shares of the company’s stock, valued at approximately $7,738,984.57. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,678 shares of company stock worth $416,581 in the last quarter. 30.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

LQDA has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of Liquidia in a research note on Thursday, March 20th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Liquidia in a research report on Thursday, April 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Liquidia in a research note on Thursday, March 20th. 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 stock. According to data from MarketBeat, Liquidia currently has a consensus rating of “Buy” and a consensus price target of $26.63.

Liquidia Trading Down 3.1 %

Shares of NASDAQ LQDA opened at $13.29 on Tuesday. The firm has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $12.84. Liquidia Co. has a 12 month low of $8.26 and a 12 month high of $16.81. The firm has a market capitalization of $1.13 billion, a PE ratio of -8.15 and a beta of 0.23.

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