Pliant Therapeutics (NASDAQ:PLRX) Stock Price Down 4.9% – Should You Sell?

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price was down 4.9% during trading on Monday . The stock traded as low as $12.59 and last traded at $12.89. Approximately 102,040 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 468,235 shares. The stock had previously closed at $13.56.

Wall Street Analyst Weigh In

PLRX has been the topic of several recent analyst reports. Leerink Partners started coverage on shares of Pliant Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $33.00 target price on the stock. Leerink Partnrs raised Pliant Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a report on Friday, November 8th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pliant Therapeutics presently has an average rating of “Buy” and a consensus price target of $40.50.

Pliant Therapeutics Stock Performance

The stock has a market cap of $781.97 million, a PE ratio of -3.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. The business’s fifty day moving average price is $13.98 and its 200-day moving average price is $12.90.

Hedge Funds Weigh In On Pliant Therapeutics

A number of hedge funds have recently made changes to their positions in PLRX. Atria Investments Inc bought a new position in Pliant Therapeutics during the third quarter valued at approximately $112,000. Deerfield Management Company L.P. Series C purchased a new stake in Pliant Therapeutics in the 2nd quarter valued at about $126,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Pliant Therapeutics by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock valued at $131,000 after buying an additional 4,607 shares during the period. Intech Investment Management LLC purchased a new stake in Pliant Therapeutics during the third quarter worth $145,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Pliant Therapeutics in the 3rd quarter valued at about $342,000. Institutional investors own 97.30% of the company’s stock.

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.