Caligan moves 5,300 Liquidia shares between funds
Liquidia Corp insider Caligan Partners and David Johnson reported internal fund transactions in the company’s common stock.
Rhea-AI Filing Summary
Liquidia Corp insider Caligan Partners and David Johnson reported internal fund transactions in the company’s common stock. On May 19, 2026, Caligan-managed entities recorded both an open-market purchase and an open-market sale of 5,300 shares each at $59.98 per share.
A footnote explains this represents a transaction between Caligan Funds, indicating a reallocation among affiliated investment vehicles rather than a directional change in overall exposure. After these trades, Caligan-related entities held 8,133,651 Liquidia shares indirectly, while David Johnson also held 18,396 shares directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Caligan Partners LP, JOHNSON DAVID EDWARD
Role
Director, 10% Owner | Director, 10% Owner
Bought
5,300 shs ($318K)
Sold
5,300 shs ($318K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $0.001 par value per share ("Common Stock") | 5,300 | $59.98 | $318K |
| Purchase | Common Stock | 5,300 | $59.98 | $318K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock, $0.001 par value per share ("Common Stock") — 8,133,651 shares (Indirect, See footnote);
Common Stock — 8,138,951 shares (Indirect, See footnote);
Common Stock — 18,396 shares (Direct)
Footnotes (3)
- F1. Securities held by certain funds (the "Caligan Funds") and managed accounts (the "Caligan Accounts", and together with the Caligan Funds, the "Caligan Funds and Accounts") to which Caligan serves as investment manager and related entities. David Johnson ("Mr. Johnson", and together with Caligan, the "Reporting Persons") is the Managing Partner of Caligan and a Managing Member of Caligan Partners GP LLC, the general partner of Caligan.
- F2. Represents a transaction between the Caligan Funds.
- F3. Mr. Johnson is deemed to hold the securities reported herein for the benefit of the Caligan Funds and Accounts, and may, after vesting, if applicable, transfer the securities directly to the Caligan Funds and Accounts.
Key Figures
Open-market purchase: 5,300 shares at $59.98
Open-market sale: 5,300 shares at $59.98
Indirect holdings after transactions: 8,133,651 shares
+2 more
5 metrics
Open-market purchase
5,300 shares at $59.98
Common Stock bought on May 19, 2026 by Caligan-managed entities
Open-market sale
5,300 shares at $59.98
Common Stock sold on May 19, 2026 by Caligan-managed entities
Indirect holdings after transactions
8,133,651 shares
Liquidia common stock held indirectly by Caligan-related entities after trades
Direct holdings after transactions
18,396 shares
Liquidia common stock held directly by David Johnson after reporting date
Net buy/sell shares
0 shares
Transaction summary net buy/sell direction neutral for May 19, 2026
Key Terms
open-market purchase, open-market sale, indirect ownership, Caligan Funds and Accounts
4 terms
open-market purchase financial
"Represents an open-market purchase of 5,300 shares at $59.98 per share"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
open-market sale financial
"Represents an open-market sale of 5,300 shares at $59.98 per share"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
indirect ownership financial
"Caligan Funds and Accounts reflect primarily indirect ownership of Liquidia shares"
Caligan Funds and Accounts financial
"Securities held by certain funds and managed accounts, the Caligan Funds and Accounts"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Caligan Partners report for Liquidia (LQDA)?
Caligan-related entities reported both buying and selling 5,300 shares of Liquidia common stock at $59.98 per share on May 19, 2026. A footnote states the activity represents a transaction between Caligan Funds, suggesting an internal reallocation rather than a change in overall exposure.
Was there a net change in Caligan’s Liquidia (LQDA) position from these insider transactions?
The filing shows equal buy and sell volumes of 5,300 shares at $59.98 per share, and the transaction summary lists net buy/sell shares as zero. A footnote describing a transaction between Caligan Funds indicates the activity was an internal reallocation, not a net directional change.
Who is David Johnson in relation to Caligan Partners and Liquidia (LQDA)?
David Johnson is identified as the Managing Partner of Caligan and a Managing Member of Caligan Partners GP LLC. He is deemed to hold the reported Liquidia securities for the benefit of Caligan Funds and Accounts and may transfer them to those vehicles after vesting, if applicable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
