What is the 13F Pro Quality Score for LQDA?

13F Pro ranks Liquidia Corp (LQDA) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View LQDA's current score at https://13fpro.ai/research/LQDA (free sign-up required for the full ranking).

Which hedge funds own the most LQDA stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of LQDA include FARALLON CAPITAL MANAGEMENT, Caligan Partners, BlackRock,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/LQDA as soon as new 13F filings post.

Where does 13F Pro source LQDA data?

All Liquidia Corp fundamentals and ownership data come directly from SEC EDGAR. Liquidia Corp files with the SEC under CIK 1819576. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is LQDA in?

Liquidia Corp (LQDA) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is LQDA research updated on 13F Pro?

LQDA's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Liquidia Corp(LQDA)Stock Analysis

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13F Pro Quality Score

37.4/100

Rank #2,056 of 2,879 stocks

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

98.5/100

Profitability

22.2/100

Balance Sheet

18.5/100

Earnings Quality

30.0/100

Free Cash Flow

15.3/100

Institutional Flow

51.1/100

Revenue Scale

24.5/100

Dilution Risk

10.0/100

LQDA Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Liquidia Corp (LQDA), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores LQDA at 37.4/100 on a 32-signal composite quality model, placing it at rank #2,056 of 2,879 stocks — the bottom half of the AI-ranked universe. LQDA scores in the top quartile across revenue growth (98.5). Areas of concern include free cash flow (15.3) and balance sheet strength (18.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 10.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Liquidia Corp reports quarterly revenue of $132.9M, net income of $52.9M, free cash flow of $50.2M. Top institutional holders of LQDA by reported 13-F value include FARALLON CAPITAL MANAGEMENT, Caligan Partners, BlackRock,, based on the most recent SEC filings. LQDA trades on the Nasdaq exchange and files with the SEC under CIK 1819576. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LQDA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Liquidia Corp directly from SEC EDGAR. Liquidia Corp's 13F Pro composite quality score has ranged between 12 and 73 since 2023, currently 37.4 — an improving long-term trajectory across 36 quarterly and live scoring snapshots.

✦

Fun facts about Liquidia Corp

Quirks, history, and lore behind LQDA — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. biopharmaceutical company · small-cap · listed on Nasdaq · headquartered in North Carolina.
2
The Numbers
Revenue is still in the early commercial stage — we're talking tens of millions, not billions — as it works to convert a niche pulmonary drug approval into meaningful market share.
3
The History
Founded in the early 2000s, the company spent years developing a proprietary dry-powder inhaler technology to deliver drugs more precisely to the lungs.
4
The Secret
Its core platform, PRINT technology, uses a nano-molding process to manufacture particles of near-identical size and shape — think pharmaceutical engineering at the microscopic level.
5
The Lore
The company fought a lengthy patent battle with an established rival over its inhaled pulmonary arterial hypertension drug, a rare and serious disease with few treatment options.
6
The Giveaway
Its FDA-approved drug Yutrepia targets pulmonary arterial hypertension, and its ticker is practically a clue in itself — four letters that start with LQ.

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Revenue

Q1 2026

$132.9M

Net Income

Q1 2026

$52.9M

Free Cash Flow

Q1 2026

$50.2M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+1031.2% YoY

$158.3MFY 2025

FY20 $739.6KFY21 $12.9MFY24 $14.0MFY25 $158.3M

Net Income

+46.3% YoY

$-68.9MFY 2025

FY20 $-59.8MFY21 $-34.6MFY24 $-128.3MFY25 $-68.9M

Operating Income

+57.6% YoY

$-51.4MFY 2025

FY20 $-59.1MFY21 $-33.8MFY24 $-121.3MFY25 $-51.4M

EPS (Diluted)

+50.9% YoY

$-0.80FY 2025

FY20 $-1.76FY21 $-0.70FY24 $-1.63FY25 $-0.80

Total Assets

+42.4% YoY

$327.9MFY 2025

FY20 $99.5MFY21 $93.7MFY24 $230.3MFY25 $327.9M

Total Debt

—FY 2025

FY20 $10.3MFY21 $10.4MFY24 —FY25 —

Op. Cash Flow

+61.8% YoY

$-35.7MFY 2025

FY20 $-54.1MFY21 $-34.0MFY24 $-93.4MFY25 $-35.7M

Metric	FY 2025	FY 2024	FY 2021	FY 2020	FY 2019	FY 2018
Revenue	$158.3M +1031.2%	$14.0M +8.9%	$12.9M +1637.8%	$739.6K -90.8%	$8.1M	—
Net Income	$-68.9M +46.3%	$-128.3M -271.0%	$-34.6M +42.1%	$-59.8M -25.6%	$-47.6M	—
Operating Income	$-51.4M +57.6%	$-121.3M -258.9%	$-33.8M +42.8%	$-59.1M -26.2%	$-46.8M	—
EPS (Diluted)	$-0.80 +50.9%	$-1.63 -132.9%	$-0.70 +60.2%	$-1.76 +31.5%	$-2.57	—
Total Assets	$327.9M +42.4%	$230.3M +145.7%	$93.7M -5.8%	$99.5M +44.6%	$68.8M	—
Total Debt	—	—	$10.4M +1.1%	$10.3M -35.2%	$15.9M	—
Operating Cash Flow	$-35.7M +61.8%	$-93.4M -174.5%	$-34.0M +37.1%	$-54.1M -12.1%	$-48.3M	—

AI Insight: LQDA Financial Trends

Liquidia turned profitable in Q3 2025 and achieved $133M revenue in Q1 2026, with operating income swinging from -$38M to +$62M in just two quarters.

• Revenue accelerated from $9M in Q2 2025 to $133M in Q1 2026—15× growth in nine months following Q3 2025 inflection.

• Operating income turned positive in Q3 2025 at $2M, reaching $62M in Q1 2026—a $60M swing from -$38M in Q2 2025.

• Operating cash flow positive at $44M in Q4 2025 and $53M in Q1 2026, reversing years of cash burn.

• Equity recovered to $109M in Q1 2026 from $15M low in Q2 2025, strengthening balance sheet post-profitability.

⚠ Revenue growth deceleration risk: Q4 2025 to Q1 2026 growth (44%) slower than Q3–Q4 surge (70%)—watch sustainability.

⚠ Verify Q1 2026 operating margin (47%) is sustainable; prior quarters show volatility in profitability trajectory.

AI Insight: LQDA Ratio Trends

Liquidia swung from deep losses in 2024 to 46% operating margin and 195% ROE in Q1 2026—a dramatic profitability inflection.

• Operating margin expanded from 3.2% in Q3 2025 to 46.3% in Q1 2026; net profit margin jumped from -6.5% to 39.8%.

• ROE and ROA swung from deeply negative (Q1–Q2 2025: -64% to -67% ROA) to 195% ROE and 53% ROA in Q1 2026.

• TTM ROIC stands at 41.9%; operating leverage evident across all profitability metrics over past two quarters.

⚠ Magnitude and sustainability of Q1 2026 metrics (46% OpMargin, 39.8% NPM) require confirmation; Q4 2025 lacked ROIC data.

⚠ Company lost money in 2024 and early 2025; verify underlying revenue growth and margin drivers powering recent turnaround.

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Available Research

13F Pro tracks comprehensive data for Liquidia Corp including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of LQDA

FARALLON CAPITAL MANAGEMENT LLC
$326.7M8,656,038 sh
Caligan Partners LP
$306.4M8,118,892 sh
BlackRock, Inc.
$207.2M5,489,144 sh
FINDELL CAPITAL MANAGEMENT LLC
$132.2M3,502,112 sh
VANGUARD CAPITAL MANAGEMENT LLC
$110.5M2,926,945 sh
GROUP ONE TRADING, L.P.
$98.2M2,602,000 sh
Opaleye Management Inc.
$88.8M2,545,000 sh
BANK OF AMERICA CORP /DE/
$86.3M2,287,792 sh
GEODE CAPITAL MANAGEMENT, LLC
$72.8M1,928,969 sh
STATE STREET CORP
$71.0M1,881,599 sh

Fund	Value	Shares
FARALLON CAPITAL MANAGEMENT LLC	$326.7M	8,656,038
Caligan Partners LP	$306.4M	8,118,892
BlackRock, Inc.	$207.2M	5,489,144
FINDELL CAPITAL MANAGEMENT LLC	$132.2M	3,502,112
VANGUARD CAPITAL MANAGEMENT LLC	$110.5M	2,926,945
GROUP ONE TRADING, L.P.	$98.2M	2,602,000
Opaleye Management Inc.	$88.8M	2,545,000
BANK OF AMERICA CORP /DE/	$86.3M	2,287,792
GEODE CAPITAL MANAGEMENT, LLC	$72.8M	1,928,969
STATE STREET CORP	$71.0M	1,881,599

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Is LQDA a good stock to buy?

13F Pro's AI-powered analysis of Liquidia Corp (LQDA) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for LQDA are available on the LQDA stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own LQDA?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling LQDA. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Liquidia Corp's investment landscape.