Pliant Therapeutics (NASDAQ:PLRX) Stock Price Down 2.7%

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price was down 2.7% on Wednesday . The company traded as low as $12.26 and last traded at $12.26. Approximately 20,745 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 457,836 shares. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLRX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Oppenheimer dropped their price target on shares of Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a research note on Friday, September 13th. Finally, Leerink Partners started coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $33.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $40.57.

Pliant Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 14.47 and a quick ratio of 14.47. The firm’s 50-day simple moving average is $12.89 and its 200-day simple moving average is $13.08.

Pliant Therapeutics (NASDAQ:PLRX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.07). As a group, research analysts expect that Pliant Therapeutics, Inc. will post -3.71 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Mike Ouimette sold 7,656 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $88,503.36. Following the completion of the sale, the general counsel now owns 94,044 shares in the company, valued at approximately $1,087,148.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $88,503.36. Following the transaction, the general counsel now owns 94,044 shares in the company, valued at approximately $1,087,148.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Lefebvre sold 12,319 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $142,407.64. Following the transaction, the insider now owns 213,052 shares in the company, valued at approximately $2,462,881.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,596 shares of company stock worth $804,530. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Pliant Therapeutics

Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Pliant Therapeutics by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company’s stock valued at $897,000 after acquiring an additional 1,191 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Pliant Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock valued at $216,000 after acquiring an additional 1,203 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Pliant Therapeutics in the 4th quarter valued at $37,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Pliant Therapeutics by 67.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock valued at $173,000 after acquiring an additional 4,652 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Pliant Therapeutics by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock valued at $3,282,000 after acquiring an additional 5,152 shares during the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

About Pliant Therapeutics

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrosis and related diseases in the United States. The company's lead candidate is bexotegrast, an oral, small-molecule, dual selective inhibitor of avß6 and avß1 integrins, which is in phase 2b trials for idiopathic pulmonary fibrosis and in phase 2a trial for primary sclerosing cholangitis.