Michael Kaseta, serving as both Chief Financial Officer and Chief Operating Officer at Liquidia Corp (NASDAQ:LQDA), has executed a substantial divestment of company equity, selling common stock valued at approximately $1,460,964 on July 13, 2026. This transaction was reported through a recent regulatory filing and follows the acquisition of common stock via the settlement of performance stock units. The sale activity takes place as Liquidia shares have experienced significant momentum, surging 427% over the past year, although the stock has recently pulled back 3.75% over the last week. Trading at $76.47, the stock price has climbed above Kaseta’s sale prices. According to InvestingPro analysis, Liquidia appears undervalued with a Fair Value of $89.19, suggesting potential upside. The company maintains impressive gross profit margins of 91.82% and carries a "GREAT" financial health score.
Mr. Kaseta sold a total of 20,430 shares of Liquidia common stock. The sales occurred at prices ranging from $71.39 to $71.52 per share. These dispositions were made pursuant to a Rule 10b5-1 trading plan, which was established on December 15, 2023. The shares were sold to cover tax obligations related to the settlement of previously granted restricted stock units (RSUs) and performance stock units (PSUs).
Prior to the sales, on July 10, 2026, Mr. Kaseta acquired 12,879 shares of Liquidia common stock. These shares were obtained through the conversion of performance stock units, which convert into common stock on a one-for-one basis. Specifically, 5,829 shares were from PSUs that vested from a January 11, 2024 grant, and 7,050 shares were from PSUs that vested from a January 11, 2025 grant.
Following these reported transactions, Mr. Kaseta directly holds 345,805 shares of Liquidia Corp common stock. This total includes various unvested restricted stock units and shares acquired under the company’s employee stock purchase plan.
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In other recent news, Liquidia Corporation has seen several notable developments. The company will be joining the S&P SmallCap 600 Index, effective June 22, 2026, which is a significant inclusion for the company. Additionally, BofA Securities downgraded Liquidia from Buy to Neutral, although it raised the price target to $79, citing a more balanced risk-reward profile after the stock’s gains. The firm also increased its peak sales estimate for Yutrepia to $2.2 billion, following a launch that exceeded expectations.
In legal news, H.C. Wainwright raised its price target for Liquidia to $75, maintaining a Buy rating, due to favorable implications from a Supreme Court ruling involving Hikma Pharmaceuticals and Amarin. Similarly, Raymond James reiterated a Strong Buy rating with a $68 price target, also highlighting the positive impact of the Supreme Court decision. These recent developments are crucial for investors keeping an eye on Liquidia’s market performance and legal strategies.