LQDA Liquidia Corp
Executive Summary
Six major passive asset managers increased their Liquidia Corp (LQDA) positions in Q3 2025, with aggregate holdings jumping $47.2M to $64.3M. Morgan Stanley, Bank of America, and UBS led the buying, suggesting broad institutional confidence in the company's pipeline and regulatory outlook. The cluster is dominated by passive/index-oriented managers, which tempers the signal strength compared to an active-manager-led cluster.
Key Financial Metrics
Institutional Positions
Net institutional flow: $47.2M
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Morgan Stanley | DOUBLED | +128.3% | $22.9M | $17.4M |
| BofA | DOUBLED | +303.8% | $17.4M | $15.0M |
| UBS | ADD | +50.1% | $9.4M | $6.0M |
| Schwab | ADD | +29.4% | $12.8M | $7.4M |
| Invesco | DOUBLED | +129.9% | $1.8M | $1.4M |
| T. Rowe Price | ADD | +87.2% | $1.0K | $966.00 |
Actionable Insight
The broad-based passive accumulation suggests the stock is being systematically re-weighted in institutional portfolios, likely reflecting increased allocator interest in the YUTREPIA (treprostinil) inhalation powder story. However, with all buyers being passive managers, the cluster lacks signal of a specific near-term catalyst. Watch for an active-manager 13D filing or a regulatory catalyst (FDA decision on YUTREPIA) to confirm a fundamental thesis rather than a mere index-rebalancing effect.
Key Facts
- 6 institutional buyers added $47.2M in net new value; 0 sellers
- Morgan Stanley doubled holdings adding 565.8K shares ($17.4M increase)
- Bank of America nearly quadrupled holdings adding 575.8K shares ($15.0M increase)
- UBS added 50.1% to position, increasing $6.0M
- All 6 buyers are mega-passive managers, not active hedge funds
- 93% analyst consensus rating is Strong Buy / Buy
Financial Impact
6 passive institutions accumulated $47.2M in net new value, bringing total tracked institutional holdings to $64.3M
Risk Factors
- All 6 buyers are passive managers — the buying may reflect index rebalancing or generic sector allocation, not a fundamental catalyst view
- 13F data is 45+ days stale; positions may have already been unwound
- No active hedge fund or activist buyers to confirm high-conviction thesis
- Recent insider selling of $16.9M over 30 days creates a divergence with institutional buying
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-LQDA-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 11, 2026
1d ago
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Institutional Cluster
| $65.50 awaiting T+1 | awaiting T+1 | — | — |
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Jun 10, 2026
2d ago
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144
| $65.21 awaiting T+1 | awaiting T+1 | — | — |
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Jun 8, 2026
4d ago
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Insider Cluster
| $63.94 awaiting T+1 | awaiting T+1 | — | — |
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Jun 8, 2026
4d ago
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CLUSTER / 8-K
| $63.94 awaiting T+1 | awaiting T+1 | — | — |
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Jun 4, 2026
8d ago
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144
| $62.76 awaiting T+1 | awaiting T+1 | — | — |
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Jun 4, 2026
8d ago
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144
| $62.76 awaiting T+1 | awaiting T+1 | — | — |
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Jun 3, 2026
9d ago
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Insider Cluster
| $62.54 $61.85 | ▼ −1.10% | ▲ +1.50% | — |
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Jun 1, 2026
11d ago
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144
| $58.75 $55.11 | ▼ −6.20% | ▼ −6.34% | — |
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May 26, 2026
17d ago
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Insider Cluster
| $62.03 $62.03 | · 0.00% | ▼ −0.55% | — |
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May 21, 2026
23d ago
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Insider Cluster
| $61.97 $60.98 | ▼ −1.60% | ▼ −2.04% | — |
US Market Status
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