Elmind Capital LP Takes $3.10 Million Position in Liquidia Corporation $LQDA

Elmind Capital LP acquired a new stake in shares of Liquidia Corporation (NASDAQ:LQDA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 90,000 shares of the company’s stock, valued at approximately $3,104,000. Liquidia comprises approximately 0.9% of Elmind Capital LP’s investment portfolio, making the stock its 24th largest position.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Liquidia during the fourth quarter valued at approximately $25,000. NewEdge Advisors LLC bought a new stake in Liquidia during the second quarter valued at approximately $25,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Liquidia during the third quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new stake in Liquidia during the third quarter valued at approximately $34,000. Finally, Covestor Ltd grew its position in Liquidia by 41.9% during the fourth quarter. Covestor Ltd now owns 1,216 shares of the company’s stock valued at $42,000 after buying an additional 359 shares during the period. 64.54% of the stock is owned by hedge funds and other institutional investors.

Liquidia Stock Performance

Shares of NASDAQ LQDA opened at $68.65 on Thursday. The company has a current ratio of 2.22, a quick ratio of 2.03 and a debt-to-equity ratio of 1.18. Liquidia Corporation has a 12-month low of $11.85 and a 12-month high of $73.22. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 490.39 and a beta of 0.58. The firm has a 50 day moving average of $51.76 and a 200 day moving average of $41.76.

Liquidia (NASDAQ:LQDA) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.11. Liquidia had a net margin of 7.74% and a return on equity of 46.82%. The business had revenue of $132.87 million for the quarter, compared to the consensus estimate of $119.44 million. The business’s quarterly revenue was up 4187.1% compared to the same quarter last year. On average, research analysts anticipate that Liquidia Corporation will post 2.97 earnings per share for the current year.

Insider Buying and Selling at Liquidia

In other Liquidia news, Director Stephen M. Bloch sold 318,893 shares of Liquidia stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $50.23, for a total transaction of $16,017,995.39. Following the transaction, the director owned 1,870,042 shares of the company’s stock, valued at $93,932,209.66. The trade was a 14.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul B. Manning sold 200,000 shares of Liquidia stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $63.91, for a total transaction of $12,782,000.00. Following the transaction, the director directly owned 716,311 shares in the company, valued at $45,779,436.01. This represents a 21.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,282,894 shares of company stock valued at $128,344,713 over the last 90 days. 25.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LQDA has been the subject of several recent research reports. HC Wainwright boosted their target price on shares of Liquidia from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Jefferies Financial Group restated a “buy” rating and set a $60.00 target price on shares of Liquidia in a research report on Monday, May 11th. Raymond James Financial restated a “strong-buy” rating and set a $68.00 target price on shares of Liquidia in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Liquidia in a research report on Tuesday, April 21st. Finally, BTIG Research boosted their target price on shares of Liquidia from $50.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Liquidia presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

Liquidia Profile

Liquidia Technologies, Inc is a clinical-stage biopharmaceutical company headquartered in Research Triangle Park, North Carolina. The company leverages its proprietary PRINT® (Particle Replication In Non-wetting Templates) platform to engineer precisely shaped and sized drug particles, with the goal of improving delivery, efficacy and safety profiles. By controlling particle characteristics at the nanoscale, Liquidia seeks to enhance respiratory and other therapies that depend on targeted delivery.

The company’s lead product candidate, LIQ861, is a dry powder formulation of treprostinil designed for inhalation in patients with pulmonary arterial hypertension (PAH).