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/company/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 BlackRock,, FARALLON CAPITAL MANAGEMENT, Caligan Partners. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/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.

What are LQDA's largest expenses?

Liquidia Corp's latest 10-Q reports these as the largest expense items: Selling, general and administrative ($57.4M, +48% YoY); Research and development ($17.2M, +185% YoY); Cost of product sales ($10.8M, +5,148% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

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

78.3/100

Rank #56 of 2,961 stocksTOP 5%

View Healthcare peers →

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

Revenue Growth

99.3/100

Profitability

93.0/100

Balance Sheet

98.8/100

Earnings Quality

67.0/100

Free Cash Flow

86.8/100

Institutional Flow

92.6/100

Revenue Scale

35.2/100

Dilution Risk

9.6/100

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Why LQDA Scores 78/100

exact factor attribution · 2026-09-11

LQDA's composite is driven by revenue growth and profitability, held back by scale and shareholder dilution. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+9.9 pts

99th pct

Profitability

+6.5 pts

93th pct

Free cash flow

+5.5 pts

87th pct

Capital efficiency

+4.9 pts

99th pct

Institutional flow

+2.1 pts

93th pct

Earnings growth

+2.0 pts

90th pct

Earnings quality

+1.7 pts

67th pct

Shareholder dilution

-2.0 pts

10th pct

Scale

-2.2 pts

35th pct

Latest change (2026-08-12): 37 → 69 · ↑ Profit margin 22→99; ↑ Free cash flow 15→98; despite ↓ Revenue growth 98→71

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

Unusual Activity in LQDA

Events flagged as statistical outliers against LQDA's own multi-year baseline — not fixed dollar thresholds.

Score shock2026-08-12
LQDA quality score jumped 31 points (37→69) on a new filing
View source filing →

LQDA Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Liquidia Corp (LQDA), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores LQDA at 78.3/100 on a 32-signal composite quality model, placing it at rank #56 of 2,961 stocks — the top 5% of the AI-ranked universe. LQDA scores in the top quartile across revenue growth (99.3), balance sheet strength (98.8), profitability (93.0). Areas of concern include revenue scale (35.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 9.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Liquidia Corp reports quarterly revenue of $171.7M, net income of $74.7M, free cash flow of $69.0M. Top institutional holders of LQDA by reported 13-F value include BlackRock, FARALLON CAPITAL MANAGEMENT, Caligan Partners, 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 78 since 2023, currently 78.3 — an improving long-term trajectory across 60 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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What's Driving LQDA's Business? Latest 10-Q Breakdown

✓ 27/27 datapoints verified

AI-extracted from Liquidia Corp's 10-Q filed 2026-08-12 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

First full year of YUTREPIA selling drove Q2 revenue to $171.7M from $8.8M, delivering $74.7M net income versus a $41.6M loss a year ago.

Biggest Revenue Drivers

Product sales, net (YUTREPIA)$170.4M+2,514.4% YoY

The increase of $163.9 million was due to higher volume of YUTREPIA sales.

Service revenue, net (Sandoz Promotion Agreement)$1.3M-44% YoY

The decrease of $1.0 million was primarily due to the impact of unfavorable gross-to-net adjustments.

Biggest Revenue Drivers

Total revenue: $171.7M+1,843% YoY

Product sales, net (YUTREPIA)$170.4M+2,514.4% YoY

The increase of $163.9 million was due to higher volume of YUTREPIA sales.

Service revenue, net (Sandoz Promotion Agreement)$1.3M-44% YoY

The decrease of $1.0 million was primarily due to the impact of unfavorable gross-to-net adjustments.

Largest Expense Items

Selling, general and administrative$57.4M+48% YoY

$10.0M higher personnel, $3.1M stock compensation and $8.6M commercial/consulting, offset by a $5.5M decrease in litigation legal fees.

Research and development$17.2M+185% YoY

Primarily a $7.0M increase in L606 program spend, $2.0M in YUTREPIA R&D, and a $1.0M L606 development milestone.

Cost of product sales$10.8M+5,148% YoY

The increase of $10.6 million was primarily due to higher volume of YUTREPIA sales.

Margins: Cost of product sales was $10.8M on $170.4M of product sales. The filing warns that, having sold through inventory previously expensed to R&D, future cost of product sales will reflect the full manufacturing cost of YUTREPIA.

Watch Items from the Filing

United Therapeutics litigation seeks injunctive relief removing YUTREPIA from the market; the '327 trial decision is pending and the company cannot estimate a range of losses.
Customer concentration: Customer A and Customer B were 46% and 45% of gross product sales for the six months, and 40% and 55% of accounts receivable.
HCR revenue interest financing: $176.1M carrying value, $54.0M due within one year, $250.6M total fixed contractual payments, and a $15.0M minimum cash covenant through 2033.
Service revenue remains constrained: ICU Medical no longer supports the CADD-MS 3 pump, limiting patients placed on subcutaneous Treprostinil Injection therapy.
Effective tax rate of 8.5% includes a partial valuation allowance release; management may release more if sustained profitability is demonstrated. Cash rose to $284.2M.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$171.7M

Net Income

Q2 2026

$74.7M

Free Cash Flow

Q2 2026

$69.0M

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+1031.2% YoY

$158.3MFY 2025

FY22 $15.9MFY23 $17.5MFY24 $14.0MFY25 $158.3M

Net Income

+46.3% YoY

$-68.9MFY 2025

FY22 $-41.0MFY23 $-78.5MFY24 $-128.3MFY25 $-68.9M

Operating Income

+57.6% YoY

$-51.4MFY 2025

FY22 $-38.8MFY23 $-73.4MFY24 $-121.3MFY25 $-51.4M

EPS (Diluted)

+50.9% YoY

$-0.80FY 2025

FY22 $-0.67FY23 $-1.21FY24 $-1.63FY25 $-0.80

Total Assets

+42.4% YoY

$327.9MFY 2025

FY22 $129.2MFY23 $118.3MFY24 $230.3MFY25 $327.9M

Total Debt

—FY 2025

FY22 $19.9MFY23 —FY24 —FY25 —

Op. Cash Flow

+61.8% YoY

$-35.7MFY 2025

FY22 $-28.6MFY23 $-41.6MFY24 $-93.4MFY25 $-35.7M

Free Cash Flow

+59.3% YoY

$-40.0MFY 2025

FY22 $-29.2MFY23 $-42.9MFY24 $-98.4MFY25 $-40.0M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$158.3M +1031.2%	$14.0M -20.0%	$17.5M +9.7%	$15.9M +24.0%	$12.9M +1637.8%	$739.6K
Net Income	$-68.9M +46.3%	$-128.3M -63.4%	$-78.5M -91.4%	$-41.0M -18.6%	$-34.6M +42.1%	$-59.8M
Operating Income	$-51.4M +57.6%	$-121.3M -65.3%	$-73.4M -89.3%	$-38.8M -14.7%	$-33.8M +42.8%	$-59.1M
EPS (Diluted)	$-0.80 +50.9%	$-1.63 -34.7%	$-1.21 -80.6%	$-0.67 +4.3%	$-0.70 +60.2%	$-1.76
Total Assets	$327.9M +42.4%	$230.3M +94.6%	$118.3M -8.4%	$129.2M +37.8%	$93.7M -5.8%	$99.5M
Total Debt	—	—	—	$19.9M +91.0%	$10.4M +1.1%	$10.3M
Operating Cash Flow	$-35.7M +61.8%	$-93.4M -124.8%	$-41.6M -45.4%	$-28.6M +16.0%	$-34.0M +37.1%	$-54.1M
Free Cash Flow	$-40.0M +59.3%	$-98.4M -129.5%	$-42.9M -46.9%	$-29.2M +14.5%	$-34.1M +37.8%	$-54.9M

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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

BlackRock, Inc.
$860.2M10,788,586 sh
FARALLON CAPITAL MANAGEMENT LLC
$666.9M8,365,038 sh
Caligan Partners LP
$647.3M8,118,892 sh
FINDELL CAPITAL MANAGEMENT LLC
$279.2M3,502,112 sh
VANGUARD CAPITAL MANAGEMENT LLC
$250.3M3,139,183 sh
STATE STREET CORP
$241.6M3,030,395 sh
Opaleye Management Inc.
$195.1M2,447,500 sh
GEODE CAPITAL MANAGEMENT, LLC
$169.2M2,121,290 sh
BANK OF AMERICA CORP /DE/
$158.8M1,991,566 sh
PRICE T ROWE ASSOCIATES INC /MD/
$154.7M1,940,364 sh

Fund	Value	Shares
BlackRock, Inc.	$860.2M	10,788,586
FARALLON CAPITAL MANAGEMENT LLC	$666.9M	8,365,038
Caligan Partners LP	$647.3M	8,118,892
FINDELL CAPITAL MANAGEMENT LLC	$279.2M	3,502,112
VANGUARD CAPITAL MANAGEMENT LLC	$250.3M	3,139,183
STATE STREET CORP	$241.6M	3,030,395
Opaleye Management Inc.	$195.1M	2,447,500
GEODE CAPITAL MANAGEMENT, LLC	$169.2M	2,121,290
BANK OF AMERICA CORP /DE/	$158.8M	1,991,566
PRICE T ROWE ASSOCIATES INC /MD/	$154.7M	1,940,364

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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. LQDA is classified as a mid company.

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.