Insider Selling: Liquidia (NASDAQ:LQDA) General Counsel Sells $389,948.16 in Stock

14 Oct 2026, 01:09 by Kim Johansen · The Markets Daily

Liquidia Corporation (NASDAQ:LQDA – Get Free Report) General Counsel Russell Schundler sold 13,692 shares of Liquidia stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $28.48, for a total value of $389,948.16. Following the completion of the sale, the general counsel owned 602,841 shares of the company’s stock, valued at $17,168,911.68. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Liquidia Stock Performance

NASDAQ:LQDA traded down $0.86 during mid-day trading on Tuesday, reaching $26.81. The company’s stock had a trading volume of 3,092,611 shares, compared to its average volume of 5,078,983. Liquidia Corporation has a 12-month low of $21.94 and a 12-month high of $93.61. The firm’s fifty day moving average price is $63.40 and its two-hundred day moving average price is $61.76. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2.40 billion, a P/E ratio of 19.57 and a beta of 0.61.

Liquidia (NASDAQ:LQDA – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.02). The company had revenue of $171.68 million for the quarter, compared to the consensus estimate of $168.48 million. Liquidia had a net margin of 30.74% and a return on equity of 149.65%. Liquidia’s revenue was up 1842.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.49) EPS. On average, equities analysts forecast that Liquidia Corporation will post 2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP boosted its position in Liquidia by 3.6% in the first quarter. Quantinno Capital Management LP now owns 17,165 shares of the company’s stock worth $648,000 after purchasing an additional 589 shares during the last quarter. Arizona State Retirement System increased its position in shares of Liquidia by 5.4% during the 2nd quarter. Arizona State Retirement System now owns 17,627 shares of the company’s stock valued at $1,405,000 after purchasing an additional 900 shares during the last quarter. Swiss National Bank increased its position in shares of Liquidia by 1.3% during the 1st quarter. Swiss National Bank now owns 120,400 shares of the company’s stock valued at $4,544,000 after purchasing an additional 1,600 shares during the last quarter. Valmark Advisers Inc. increased its position in shares of Liquidia by 10.2% during the 1st quarter. Valmark Advisers Inc. now owns 20,546 shares of the company’s stock valued at $775,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Globeflex Capital L P purchased a new stake in shares of Liquidia during the 2nd quarter valued at about $175,000. Institutional investors own 64.54% of the company’s stock.

Trending Headlines about Liquidia

Here are the key news stories impacting Liquidia this week:

Positive Sentiment: Liquidia reached a global settlement with United Therapeutics that resolves all six pending lawsuits and allows uninterrupted commercialization of YUTREPIA for pulmonary arterial hypertension (PAH). Eliminating years of patent, antitrust and trade-secret litigation reduces regulatory and commercial uncertainty. Liquidia Announces Global Settlement Resolving All Pending Litigation with United Therapeutics
Positive Sentiment: Preliminary third-quarter YUTREPIA net product sales were $222.7 million, while cash and cash equivalents stood at $396.1 million at September 30. Management said it expects to fund the settlement and planned clinical programs from cash and ongoing sales without additional financing. The company also plans to continue developing YUTREPIA and L606.
Neutral Sentiment: Multiple executives and insiders—including the CEO, CFO, CAO and general counsel—sold shares at $28.48 under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. The sales reduced individual holdings but were not discretionary open-market transactions, making them a limited standalone signal of management confidence. Liquidia insider sale filing
Negative Sentiment: Liquidia will pay United Therapeutics a net $380.7 million: $175 million within 30 business days, $145.4 million in installments during 2027 and $60.3 million related to the antitrust litigation. The outflows could materially reduce its cash cushion and constrain investment, even though management expects to rebuild cash through YUTREPIA sales.
Negative Sentiment: The company agreed not to appeal a patent-infringement ruling and is removing the PH-ILD indication from YUTREPIA’s label, limiting the product’s addressable market. Liquidia also ended promotion of Treprostinil Injection, eliminating associated commercial revenue opportunities.
Negative Sentiment: Recent insider activity remains heavily tilted toward selling—106 sales versus one purchase over six months—and a report highlighted a chairman’s share sale. Separately, a law firm announced an investor investigation related to disclosure of YUTREPIA litigation risks, adding potential reputational and legal uncertainty. Liquidia Negatively Rated Stock Pick of the Week

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LQDA shares. HC Wainwright decreased their price objective on shares of Liquidia from $130.00 to $58.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Stephens set a $130.00 target price on shares of Liquidia in a report on Friday, July 24th. Royal Bank Of Canada set a $130.00 target price on shares of Liquidia in a research report on Friday, July 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 target price (down from $108.00) on shares of Liquidia in a research report on Friday, October 2nd. Finally, Wall Street Zen lowered shares of Liquidia from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $83.69.

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Liquidia Company Profile

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Liquidia Corporation is a biopharmaceutical company focused on developing and commercializing therapies for patients with serious cardiopulmonary diseases and other rare conditions. The company uses its proprietary PRINT technology to engineer drug particles with controlled size, shape and composition, with the goal of improving the delivery and performance of medicines.