Liquidia shares jump as United Therapeutics settlement clears major YUTREPIA overhang

Liquidia Corporation (LQDA) is up 28.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is Liquidia’s newly announced global settlement with United Therapeutics, which appears to remove a major legal overhang on YUTREPIA and gives investors more clarity on the product’s path in pulmonary arterial hypertension. The rally also seems supported by management’s disclosure of strong preliminary third-quarter YUTREPIA sales and a sizable cash balance, which may have eased concerns about the cost of the settlement.

Details:

Liquidia said it reached a global agreement that resolves all six pending lawsuits with United Therapeutics.

The company said YUTREPIA will remain available to patients with pulmonary arterial hypertension without disruption, reducing fears of a broader market restriction.

Liquidia disclosed preliminary third-quarter 2026 YUTREPIA net product sales of $222.7 million and cash and equivalents of $396.1 million as of September 30, 2026.

The move may also reflect a relief rebound after the September 30 litigation update had created uncertainty around possible remedies tied to the PH-ILD label and product availability.

Sources:

Liquidia Corporation, SEC, Reuters

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$LQDA Insider Trading Activity

$LQDA insiders have traded $LQDA stock on the open market 114 times in the past 6 months. Of those trades, 1 have been purchases and 113 have been sales.

Here’s a breakdown of recent trading of $LQDA stock by insiders over the last 6 months:

STEPHEN M BLOCH has made 0 purchases and 45 sales selling 1,922,935 shares for an estimated $122,516,432.
ROGER JEFFS (Chief Executive Officer) has made 0 purchases and 18 sales selling 436,832 shares for an estimated $22,596,260.
PAUL B MANNING has made 0 purchases and 5 sales selling 200,000 shares for an estimated $12,782,058.
MICHAEL KASETA (CFO and COO) has made 0 purchases and 6 sales selling 178,758 shares for an estimated $7,595,559.
RAJEEV SAGGAR (Chief Medical Officer) has made 0 purchases and 5 sales selling 98,678 shares for an estimated $6,944,550.
JASON ADAIR (Chief Business Officer) has made 0 purchases and 7 sales selling 90,171 shares for an estimated $5,946,321.
KATHERINE RIELLY-GAUVIN has made 0 purchases and 2 sales selling 55,182 shares for an estimated $4,087,434.
RAMAN SINGH has made 0 purchases and 3 sales selling 46,986 shares for an estimated $2,952,888.
SARAH KREPP (Chief Human Resource Officer) has made 0 purchases and 6 sales selling 38,263 shares for an estimated $2,478,831.
RUSSELL SCHUNDLER (General Counsel) has made 0 purchases and 3 sales selling 28,430 shares for an estimated $1,443,873.
DANA BOYLE (Chief Accounting Officer) has made 0 purchases and 5 sales selling 18,070 shares for an estimated $1,011,133.
SCOTT MOOMAW (Chief Commercial Officer) has made 0 purchases and 3 sales selling 18,402 shares for an estimated $934,559.
PARTNERS LP CALIGAN has made 1 purchase buying 5,300 shares for an estimated $317,894 and 1 sale selling 5,300 shares for an estimated $317,894.
SANJEEV KHINDRI (Chief Development Officer) has made 0 purchases and 4 sales selling 6,420 shares for an estimated $386,708.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$LQDA Hedge Fund Activity

We have seen 218 institutional investors add shares of $LQDA stock to their portfolio, and 106 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BLACKROCK, INC. added 5,299,442 shares (+96.5%) to their portfolio in Q2 2026, for an estimated $422,524,510
FULLER & THALER ASSET MANAGEMENT, INC. added 1,209,604 shares (+inf%) to their portfolio in Q2 2026, for an estimated $96,441,726
PRICE T ROWE ASSOCIATES INC /MD/ added 987,213 shares (+103.6%) to their portfolio in Q2 2026, for an estimated $78,710,492
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 674,033 shares (+inf%) to their portfolio in Q2 2026, for an estimated $53,740,651
JANE STREET GROUP, LLC removed 654,343 shares (-82.2%) from their portfolio in Q2 2026, for an estimated $52,170,767
AMERICAN CENTURY COMPANIES INC added 542,131 shares (+inf%) to their portfolio in Q2 2026, for an estimated $43,224,104
SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 530,014 shares (-52.9%) from their portfolio in Q2 2026, for an estimated $42,258,016

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$LQDA Price Targets

Multiple analysts have issued price targets for $LQDA recently. We have seen 5 analysts offer price targets for $LQDA in the last 6 months, with a median target of $75.0.

Here are some recent targets:

Jason Gerberry from B of A Securities set a target price of $79.0 on 06/29/2026
Julian Harrison from BTIG set a target price of $109.0 on 06/22/2026
Andrew S. Fein from HC Wainwright & Co. set a target price of $75.0 on 06/05/2026
Benjamin Burnett from Wells Fargo set a target price of $62.0 on 05/12/2026
Serge Belanger from Needham set a target price of $70.0 on 05/11/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.