Liquidia Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqCM:LQDA Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
27 Apr 26	SellUS$59,541	Dana Boyle	Individual	1,576	US$37.78
27 Apr 26	SellUS$28,655	Jason Adair	Individual	688	US$41.65
13 Mar 26	SellUS$617,918	Sarah Krepp	Individual	16,261	US$38.00
13 Mar 26	SellUS$1,283,834	Rajeev Saggar	Individual	35,365	US$36.30
07 Nov 25	SellUS$727,674	Dana Boyle	Individual	29,004	US$25.16
05 Nov 25	SellUS$1,927,287	Rajeev Saggar	Individual	71,381	US$27.00
13 Oct 25	SellUS$41,951	Scott Moomaw	Individual	1,792	US$23.41
03 Sep 25	SellUS$220,650	Ramandeep Singh	Individual	7,500	US$29.42
02 Sep 25	SellUS$18,957,475	Paul Manning	Individual	670,837	US$29.14
19 Aug 25	SellUS$135,850	Joanna Horobin	Individual	5,000	US$27.17

Insider Trading Volume

Insider Buying: LQDA insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of LQDA?
Owner Type	Number of Shares	Ownership Percentage
Private Companies	1,860,371	2.09%
Individual Insiders	8,178,553	9.2%
General Public	16,069,230	18.1%
Hedge Funds	16,774,930	18.9%
Institutions	46,045,015	51.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 64.15% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
9.73%	Farallon Capital Management, L.L.C.	8,656,038	US$519.2m	0%	2.67%
9.13%	Caligan Partners, LP	8,118,892	US$487.0m	0%	28.27%
6.17%	BlackRock, Inc.	5,489,119	US$329.2m	0.01%	no data
5.26%	Paul Manning	4,679,729	US$280.7m	0%	no data
4.51%	The Vanguard Group, Inc.	4,013,888	US$240.8m	0%	no data
3.94%	Findell Capital Management LLC	3,502,112	US$210.1m	22.8%	44.59%
2.86%	Opaleye Management Inc.	2,545,000	US$152.6m	4.52%	17.42%
2.63%	Roger Jeffs	2,335,603	US$140.1m	2.86%	no data
2.17%	Geode Capital Management, LLC	1,928,969	US$115.7m	19%	0.01%
2.12%	State Street Global Advisors, Inc.	1,881,599	US$112.9m	4.02%	no data
2.09%	Legend Aggregator Advisors, LLC	1,860,371	US$111.6m	0%	no data
1.58%	MPM BioImpact LLC	1,405,158	US$84.3m	0.31%	5.95%
1.54%	The Caprock Group, LLC	1,367,235	US$82.0m	-23.4%	1.69%
1.22%	Bank of America Corporation	1,084,454	US$65.0m	0%	0.01%
1.13%	Susquehanna International Group, LLP	1,001,081	US$60.0m	282%	0.06%
1.07%	T. Rowe Price Group, Inc.	953,151	US$57.2m	2,470%	no data
0.98%	D. E. Shaw & Co., L.P.	873,065	US$52.4m	-47.6%	0.04%
0.92%	Tiger Lily Capital	816,311	US$49.0m	0%	49.75%
0.89%	Jane Street Group, LLC	795,884	US$47.7m	90.6%	0.04%
0.76%	Eversept Partners, L.P.	677,392	US$40.6m	33%	2.61%
0.73%	The Goldman Sachs Group, Inc.	652,406	US$39.1m	36.4%	0.01%
0.7%	Boothbay Fund Management, LLC	625,048	US$37.5m	1.87%	0.77%
0.7%	Buckley Capital Advisors, LLC	624,844	US$37.5m	-3.78%	23.13%
0.65%	FMR LLC	582,003	US$34.9m	53.9%	no data
0.65%	Northern Trust Global Investments	579,875	US$34.8m	3.4%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/05/20 12:26
End of Day Share Price	2026/05/20 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Liquidia Corporation is covered by 16 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jason Matthew Gerberry	BofA Global Research
Julian Harrison	BTIG
Andrew Fein	H.C. Wainwright & Co.