Roger Jeffs, Chief Executive Officer of Liquidia Corp (NASDAQ:LQDA), sold 53,300 shares of the company's common stock between April 14 and April 16, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The sales amounted to a total of $2.14 million, with prices ranging from $40.00 to $40.312 per share.
Specifically, on April 14, Jeffs sold 3,300 shares at $40.00 per share. On April 15, he sold 25,000 shares at a weighted average price of $40.1409, with individual prices ranging from $40.00 to $40.39. The final sale occurred on April 16, with another 25,000 shares sold at a weighted average price of $40.312, with individual prices ranging from $40.00 to $40.72.
Following these transactions, Jeffs directly owns 1,137,599 shares of Liquidia Corp. common stock, which includes unvested restricted stock units. He also indirectly owns 46,595 shares through the Roger A. Jeffs Living Trust and additional shares through Serendipity BioPharma LLC.The insider sale comes as Liquidia shares trade at $41.40, reflecting a remarkable 202% return over the past year. According to InvestingPro analysis, the stock remains undervalued relative to its Fair Value, with the company's market capitalization reaching $3.66 billion. The stock has surged 84% over the last six months alone, trading near its 52-week high of $46.67.
The sales were executed under a Rule 10b5-1 trading plan adopted on November 5, 2025.
In other recent news, Liquidia Technologies reported its fourth-quarter 2025 earnings, showcasing a mixed financial performance. The company exceeded revenue expectations, with fourth-quarter revenue for its Yutrepia drug reaching $90.1 million, marking a 74% quarter-over-quarter growth. Despite the strong revenue figures, earnings per share fell short of expectations, impacting investor sentiment. Analysts have responded positively to Liquidia's recent developments, with H.C. Wainwright raising its price target to $55, citing the company's shift towards profitability. BTIG also increased its price target to $50, highlighting the strong performance of Yutrepia's launch. BofA Securities maintained a Buy rating with a $44 price target, emphasizing Liquidia's competitive edge in the prostacyclin treatment market. Additionally, Raymond James reiterated a Strong Buy rating, setting a $47 price target; noted Yutrepia's sales performance is comparable to Tyvaso DPI's early launch. Liquidia has also announced revenue guidance exceeding $1 billion for 2027, marking a significant milestone for the company.