Paul B Manning

Director Paul B Manning sold 200,000 LQDA shares for $12,782,058.70 across 5 transactions on 2026-06-04

Paul B Manning, a Director at Liquidia Corp, executed 5 separate sales totaling 200,000 shares for $12,782,058.70 at prices ranging from $62.62 to $64.42, with a blended average of $63.91—immediately proximate to the current price of $63.90. This represents a -20.0% reduction in his holdings from 998,335 to 798,335 shares. The timing of this large sale is notable given the stock's recent momentum: the 30-day change is +51.1% and the 90-day change is +64.6%, placing the stock at -3.5% from its 52-week high of $66.24. Manning's prior sales at LQDA (4 trades in 2025) were consistently ill-timed, showing positive 90-day returns in all cases (+10.0%, +11.8%, +14.8%, +13.5%), with only 1 of 5 prior trades being well-timed at the 90-day mark. His cross-ticker track record of 4 prior sells shows an average 90-day return of +12.5% with a 0.00% well-timed rate, indicating historical difficulty in exiting at local peaks. The company's fundamentals present a mixed picture: revenue of $132,865,000.00 and net income of $52,862,000.00 in the latest quarter against a P/E of 255.60 and annual revenue growth of +1031.2%, though the company was unprofitable over its most recent full fiscal year.

Director Manning Paul B purchases 550,458 shares of CADL at $5.45 for $3.0M; stock down 55.7% from 52-week high.

Director Manning Paul B acquired 550,458 shares at $5.45 on 2026-02-23, increasing his holdings from 2,213,069 to 2,763,527 shares (a 24.9% increase in his position). The stock is presently trading at $5.15, down 15.6% over the prior 30 days and 55.7% below its 52-week high of $11.63. Notably, his prior two buys at CADL (both on 2024-12-16) were well-timed, posting 90-day gains of 45.8% each, establishing a pattern of successful entry decisions at this ticker. However, the company's fundamentals remain challenged: Candel posted a quarterly revenue of $31,000.00 with a net income of $-11,269,000.00, zero annual revenue growth, and remains unprofitable on a full-year basis despite a market cap of $282.7M. The current purchase at depressed valuations coincides with deteriorating momentum (30-day decline of 15.6%), distinguishing it from his prior constructive entries at this ticker.

Director Manning Paul B purchases 4,126,142 shares (4.13M) at $4.24; coincides with cluster buy by 4 other insiders within 14 days.

Director Manning Paul B executed 2 separate purchases totaling 4,126,142 shares for $17,505,157.44, bringing post-transaction holdings to 3,348,372 shares. The timing is notable: 4 other insiders also bought within the past 14 days, indicating a cluster buy pattern. However, the director's prior trade history at this ticker is concerning—his 2 measurable same-ticker buys (both on 2024-11-22) posted -30.2% and -25.4% returns at the 30 and 90-day marks respectively, with a 0% success rate on the 90-day metric. His cross-ticker track record shows mixed results (90d win rate 57.14%, avg 90d return -2.6%), further tempering conviction signals. The company remains unprofitable (net income $-274,000.00 on revenue of $14,344,000.00 in the latest quarter) despite strong annual growth of +47.7%, and the stock is -60.0% from its 52-week high, which may explain the coordinated insider accumulation at depressed price levels.

Director Paul B Manning sold 670,837 shares for $18,957,475.28 (blended $28.26) in 4 separate transactions, reducing holdings by -60.9%.

Director Manning executed four separate sales between August 28 and September 2, 2025, liquidating 670,837 shares at prices between $27.62–$29.14—near the 52-week high of $28.58—for a combined $18,957,475.28. This represents a -60.9% reduction in his stake from 1,101,665 to 430,828 shares. The timing follows a sharp 30-day (+61.6%) and 90-day (+62.4%) rally in the stock price, and occurs while the company reports negative fundamentals: quarterly revenue of $8,837,000.00, net income of $-41,579,000.00, and annual revenue growth of -20.0%. Among Manning's two prior purchases at LQDA, one (September 2024) has delivered positive 90-day returns; his cross-ticker track record across 11 prior buys shows a 57.14% 90-day win rate with mixed returns. The substantial sale magnitude and near-peak pricing warrant investor attention to both the insider's capital allocation decision and the company's operational trajectory.

10% owner Manning Paul B purchases 750,000 shares of TSHA at $2.75 for $2.1M, raising stake to 2.84M shares (+35.9%).

Manning Paul B, a 10% owner, made an open-market purchase of 750,000 shares at $2.75 on 2025-05-30, increasing his total holdings from 2,091,704 shares to 2.84M shares—a 35.9% increase in his position. The stock has since risen 7.8% in the 30 days following the transaction and 63.5% over 90 days, though it remains -33.3% from its 52-week high of $4.17. Notably, his prior buy at TSHA on 2024-06-27 was followed by a 90-day decline of -10.7%, indicating a mixed historical track record at this ticker. The company is unprofitable (net income of $-21.5M in the latest quarter) with significant recent revenue contraction (-46.1% year-over-year), which frames this substantial accumulation against a deteriorating financial backdrop and suggests investors should monitor whether subsequent quarterly results validate or contradict the timing of this purchase.

Director Paul B Manning buys 1,250,000 shares for $7,500,000 at CADL in 2 transactions on 2024-12-16

Director Manning executed 2 separate purchases totaling 1,250,000 shares (1.25M shares) for $7,500,000.00 at $6.00 per share on 2024-12-16, expanding his position from 53,752 shares to 1,303,752 shares—a +2325.5% increase. This substantial capital commitment comes as the company reports negative fundamentals: Revenue of $31,000.00 in the latest quarter, Net income of $-10,646,000.00, and zero annual revenue growth, with market cap at $212.1M. The timing coincides with a 30-day price surge of +65.1%, placing the current price of $6.53 down 53.4% from the 52-week high of $14.00. Manning's cross-ticker track record shows 8 prior buys with an average 90-day return of +32.8% and 80% win rate, yet this metric reflects his performance across all holdings, not specifically at this unprofitable biotech company facing significant operational challenges.

Director Manning Paul B purchases 22,921,348 shares (22.92M) at $0.00 in 2 transactions, boosting holdings 788.6%; stock down 88.4% from 52-week high of $95.60.

Manning Paul B acquired 22,921,348 shares (22.92M shares) across 2 separate purchases on 2024-11-22 for $0.00, expanding his holdings from 2,906,746 to 25,828,094 shares (+788.6%). The zero-price transactions signal a non-cash acquisition—likely a private placement, conversion, or equity issuance rather than open-market buying. The timing coincides with severe stock deterioration: at the current price of $11.10, the stock trades 88.4% below its 52-week high of $95.60 and is down 26.5% in the past 30 days and 52.4% over 90 days. Fundamentally, the company is unprofitable with net income of $-22,860,000.00 (negative $22.9M) and negative revenue of $-1,781,000.00 in the latest quarter, alongside declining annual revenue (down 43.3% year-over-year). A cluster pattern emerges: 2 other insiders also purchased within the past 14 days, suggesting coordinated insider acquisition activity during a period of significant stock weakness.

Director Manning Paul B bought 337,078 shares of LQDA at $8.90 (~$3.0M), expanding stake 70.3% to 816,311 shares despite stock down 40.2% from high.

Manning Paul B purchased 337,078 shares at $8.90 on 2024-09-12, increasing his holdings from 479,233 to 816,311 shares—a 70.3% expansion of his stake. The purchase occurred while LQDA traded at $8.90, approximately 40.2% below its 52-week high and down 29.1% over the prior 30 days. Notably, his prior buy at this ticker (2023-12-14) achieved a 90-day return of +105.7%, and across five cross-ticker purchases in his open-market history, his 90-day win rate stands at 75.00% with an average 90-day return of +188.6%. The company remains unprofitable with net income of $-27,942,000.00 against quarterly revenue of $3,659,000.00, creating a backdrop where this substantial directed capital commitment warrants investor scrutiny of the director's conviction and timing rationale.

10% Owner Manning Paul B purchases 1,333,333 shares of TSHA at $2.25 for $2,999,999.25; stock now -45.8% from 52-week high, unprofitable but growing revenue.

Manning Paul B, a 10% owner, invested approximately $3.0M in 1,333,333 shares at $2.25 on 2024-06-27, establishing a new position at TSHA. The stock has declined 45.8% from its 52-week high of $4.17 and is down 34.1% over 30 days and 16.6% over 90 days since the purchase. Taysha Gene Therapies is operationally unprofitable with a net loss of $24.1M in the latest full year, though revenue grew 517.6% year-over-year to $3.4M in the most recent quarter. Manning's cross-ticker track record shows strong timing discipline (75% win rate at 90 days with +188.6% average return), but his prior TSHA trades were mixed: one gained 265.6% at 30 days while another was flat; only 1 of 2 prior TSHA trades was well-timed at the 90-day mark. This purchase occurs during a period of significant downward price momentum in an unprofitable biotech, warranting close attention to how this position develops relative to the company's path to profitability.