Liquidia Corp (NASDAQ:LQDA) Chief Human Resource Officer Sarah Krepp completed a sale of 4,557 shares of the company’s common stock on April 13, 2026, at a per-share price of $38.37, for total proceeds of $174,852. At the time the stock was trading near $38.71 and has recorded strong gains over recent periods, delivering a 181% return over the past 12 months and a 71% return in the last six months.
According to a Form 4 filed with the Securities and Exchange Commission, the disposition was made pursuant to a Rule 10b5-1 trading plan that Krepp adopted on December 15, 2023. The filing specifies that the shares were sold to cover taxes associated with the settlement of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) originally granted to Krepp on January 11, 2024; July 1, 2024; and January 11, 2025.
Separately, on April 10, 2026, Krepp exercised options to acquire 3,179 shares of common stock. Those shares converted from Performance Stock Units on a one-for-one basis, as reflected in the filings. Following the April transactions, Krepp is recorded as directly owning 147,019 shares of Liquidia Corp common stock. That total includes unvested RSUs awarded on various dates and shares acquired through the company’s Employee Stock Purchase Plan.
Market commentary included in the filing and accompanying analysis notes that InvestingPro’s coverage views the stock as appearing undervalued at current levels and highlights the company’s 92% gross profit margin. The filing also points investors toward detailed Fair Value estimates and Pro Research Reports covering LQDA and more than 1,400 other U.S. stocks for further analysis.
In company financials disclosed for the fourth quarter of 2025, Liquidia reported revenue of $90.1 million, representing 74% quarter-on-quarter growth. Despite the substantial top-line increase, earnings per share for that quarter fell short of expectations, leaving the overall financial performance mixed.
Analyst actions following the quarter included several upward and reiterated assessments: H.C. Wainwright raised its price target for Liquidia to $55, pointing to the company’s movement toward profitability as a factor in attracting a broader shareholder base. BTIG increased its price target to $50, citing the successful launch of Liquidia’s Yutrepia drug. Raymond James reiterated a Strong Buy rating with a $47 price target, comparing Yutrepia’s early launch performance to that of Tyvaso DPI. BofA Securities maintained a Buy rating and a $44 price target, highlighting Liquidia’s competitive position in the prostacyclin treatment space.
These analyst updates, alongside the insider transaction and the quarter’s mixed results, detail a company at a potential inflection point—reporting rapid revenue acceleration while managing profitability expectations and continuing to draw varied analyst attention.
Context on the insider activity
The sale under a pre-established Rule 10b5-1 plan is described in the Form 4 as a tax-cover transaction tied to equity awards. The exercise of options that converted from PSUs and the resulting position of 147,019 shares indicate a sizable ongoing equity stake by Krepp, inclusive of both vested and unvested awards and Employee Stock Purchase Plan holdings.
What this means for investors
Investors seeking additional valuation context are directed, per the filing, to InvestingPro’s Fair Value estimates and Pro Research Reports for LQDA and a broad set of other U.S. stocks. The company’s high reported gross profit margin and recent revenue acceleration are contrasted by the quarterly EPS shortfall, forming the basis for the mixed financial read provided by recent disclosures and analyst commentary.