Burney Co/ 13F: Exits Liquidia (LQDA) Stake

Burney Co. has fully exited its position in Liquidia Corporation (LQDA) by selling all 53,008 shares. This action was disclosed in a filing on October 15, 2026, and means the firm has sold out of its previous stake valued at approximately $1.79 million.

What Changed in Burney Co.'s Liquidia Corporation Position

Burney Co. sold all of its 53,008 shares in Liquidia Corporation, resulting in a 100% decrease in its stake. This significant move indicates a complete withdrawal from the investment, reflecting a shift in their strategy.

Other Institutional Activity in Liquidia Corporation

Blackrock Inc. significantly increased its holdings, adding 5,299,329 shares to reach a total of 10,788,586 shares worth about $370.6 million. Vanguard Capital Management also slightly grew its position, gaining 212,206 shares for a total of 3,139,183 shares valued at approximately $107.8 million. Meanwhile, Farallon Capital Management reduced its holdings by 290,837 shares, bringing its total to 8,365,038 shares worth around $287.3 million.

Liquidia Corporation Stock Down 2.9%

Liquidia Corporation's stock recently traded around $33.77, which is notably below its 50-day moving average of approximately $61.62. The stock is also trading about 63.9% below its 52-week high of $93.61. This underperformance could reflect the recent selling activities among insiders and other institutional investors.

Recent Earnings

Liquidia Corporation reported trailing twelve-month revenue of $450.9 million, with an earnings per share (EPS) of $1.39. The next earnings report is expected on November 3, 2026. This strong revenue growth signals the company's potential despite the volatility in its stock price.

Insider Buying and Selling at Liquidia Corporation

Several insiders at Liquidia Corporation sold shares on October 12, 2026. General Counsel Russell Schundler sold 13,692 shares for about $389,948, while Chief Medical Officer Rajeev Saggar sold 9,218 shares for approximately $262,528. Additionally, Scott Moomaw, the Chief Commercial Officer, sold 8,863 shares valued at around $252,418. Chief Human Resource Officer Sarah Krepp also sold 5,245 shares for about $149,378. All these transactions were planned under Rule 10b5-1.

Analysts Set New Price Targets

On October 1, 2026, several firms downgraded their ratings for Liquidia Corporation. Raymond James downgraded the stock to an Outperform rating with a price target of $53. BTIG also downgraded it to Neutral, while Needham maintained a Buy rating but lowered its target to $72. Wells Fargo downgraded their rating to Equal-Weight with a target of $30. This series of downgrades indicates a shift in analysts' perceptions of the company's potential performance.

About Liquidia Corporation

Liquidia Corporation, based in Morrisville, NC, is a biopharmaceutical company that focuses on developing treatments for rare cardiopulmonary diseases. The company is best known for its lead product, YUTREPIA, which is used to treat pulmonary arterial hypertension. The recent changes in insider trading and institutional holdings highlight the ongoing evaluations regarding its market position.

Bottom Line

As Burney Co. exits completely from its stake in Liquidia Corporation, it will be interesting to watch how other investors react. With the next earnings report coming on November 3, 2026, and ongoing analyst downgrades, stakeholders will be keen to see how the firm navigates its future challenges. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.