Arquitos Capital Management, an investment management firm, released its third quarter 2024 investor letter. A copy of the letter can be downloaded here. The strategy returned -15.5% in the third quarter of 2024, bringing the year-to-date return to 4.5%. This year has witnessed quite a bit of volatility as usual. Prior to the decline this summer, the strategy was up over 40% at one time. Since the conclusion of the third quarter, the firm is operating well once more and expecting a successful year-end. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Arquitos Capital Management highlighted stocks like Liquidia Corporation (NASDAQ:LQDA), in the third quarter 2024 investor letter. Liquidia Corporation (NASDAQ:LQDA) is a biopharmaceutical company engages in the development and commercialization of various products for unmet patient needs. The one-month return of Liquidia Corporation (NASDAQ:LQDA) was 9.13%, and its shares gained 50.07% of their value over the last 52 weeks. On December 11, 2024, Liquidia Corporation (NASDAQ:LQDA) stock closed at $10.94 per share with a market capitalization of $925.924 million.
Arquitos Capital Management stated the following regarding Liquidia Corporation (NASDAQ:LQDA) in its Q3 2024 investor letter:
“The saga at Liquidia Corporation (NASDAQ:LQDA) continues. Everyone involved is deeply disappointed by recent developments delaying the release of their life-saving PAH and PH-ILD drug, Yutrepia, until May 2025. However, we now know when the FDA will give final approval and when Liquidia can launch. Our patience will be rewarded.
Because the market is forward-looking, we should see share appreciation in advance of that launch date. In fact, there have been a variety of sell-side research reports from respected firms with price targets between $19 and $30. Shares currently trade for $11.14 after ending the third quarter at $10.00…” (Click here to read the full text)
An aerial view of a biopharmaceutical manufacturing plant, signifying the company’s expansive operations.
Liquidia Corporation (NASDAQ:LQDA) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Liquidia Corporation (NASDAQ:LQDA) at the end of the third quarter which was 21 in the previous quarter. Liquidia Corporation’s (NASDAQ:LQDA) revenue was $4.4 million for the third quarter of 2024 compared with $3.7 million for Q3 2023. While we acknowledge the potential of Liquidia Corporation (NASDAQ:LQDA) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Liquidia Corporation (NASDAQ:LQDA) and shared the list of stocks that Jim Cramer wants you to take a look at. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.