Rangeley Capital LLC Makes New Investment in Liquidia Co. (NASDAQ:LQDA)

Rangeley Capital LLC purchased a new stake in shares of Liquidia Co. (NASDAQ:LQDA) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 191,000 shares of the company’s stock, valued at approximately $2,246,000. Liquidia accounts for 2.0% of Rangeley Capital LLC’s portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LQDA. Corebridge Financial Inc. boosted its stake in Liquidia by 2.3% during the 4th quarter. Corebridge Financial Inc. now owns 31,516 shares of the company’s stock valued at $371,000 after purchasing an additional 694 shares during the last quarter. Catalina Capital Group LLC grew its stake in shares of Liquidia by 6.5% during the 4th quarter. Catalina Capital Group LLC now owns 18,307 shares of the company’s stock valued at $215,000 after acquiring an additional 1,125 shares during the period. Sigma Planning Corp increased its stake in shares of Liquidia by 3.4% in the fourth quarter. Sigma Planning Corp now owns 65,210 shares of the company’s stock worth $767,000 after purchasing an additional 2,115 shares in the last quarter. DMC Group LLC lifted its holdings in Liquidia by 17.4% in the 4th quarter. DMC Group LLC now owns 16,302 shares of the company’s stock worth $192,000 after purchasing an additional 2,419 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Liquidia by 20.3% in the 4th 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 period. Institutional investors own 64.54% of the company’s stock.

Insider Buying and Selling

In related news, CEO Roger Jeffs sold 22,343 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $11.78, for a total value of $263,200.54. Following the completion of the sale, the chief executive officer now owns 1,019,177 shares in the company, valued at approximately $12,005,905.06. This represents a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajeev Saggar sold 2,445 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.00, for a total value of $31,785.00. Following the sale, the insider now owns 267,943 shares of the company’s stock, valued at approximately $3,483,259. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,245 shares of company stock worth $843,326 in the last three months. 30.10% of the stock is owned by insiders.

Liquidia Stock Up 0.1 %

NASDAQ:LQDA opened at $14.52 on Thursday. The stock has a fifty day simple moving average of $15.17 and a 200-day simple moving average of $12.52. Liquidia Co. has a 52-week low of $8.26 and a 52-week high of $16.81. The company has a market capitalization of $1.24 billion, a PE ratio of -8.91 and a beta of 0.07.

Liquidia (NASDAQ:LQDA) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.08). The firm had revenue of $2.92 million during the quarter, compared to analyst estimates of $4.60 million. Liquidia had a negative net margin of 765.38% and a negative return on equity of 163.21%. As a group, equities analysts anticipate that Liquidia Co. will post -1.51 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on LQDA. Needham & Company LLC raised their target price on shares of Liquidia from $19.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, March 20th. HC Wainwright reissued a “buy” rating and set a $29.00 target price on shares of Liquidia in a research report on Thursday, March 20th. Scotiabank reiterated an “outperform” rating on shares of Liquidia in a research note on Thursday, March 20th. Finally, Wells Fargo & Company assumed coverage on Liquidia in a report on Friday, December 20th. They issued an “overweight” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $26.63.

Liquidia 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).