Pliant Therapeutics (NASDAQ:PLRX) Sees Strong Trading Volume

Pliant Therapeutics, Inc. (NASDAQ:PLRX) saw an uptick in trading volume on Tuesday . 149,198 shares traded hands during mid-day trading, a decline of 67% from the previous session’s volume of 457,248 shares.The stock last traded at $12.48 and had previously closed at $11.87.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PLRX shares. Oppenheimer reduced their price target on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a research report on Friday, September 13th. Leerink Partners started coverage on Pliant Therapeutics in a research report on Monday, September 9th. They issued an “outperform” rating and a $33.00 price objective for the company. Finally, Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pliant Therapeutics has an average rating of “Buy” and a consensus target price of $40.57.

Pliant Therapeutics Stock Performance

The business has a fifty day simple moving average of $12.92 and a two-hundred day simple moving average of $13.07. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.08.

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

Insider Activity

In related news, General Counsel Mike Ouimette sold 7,656 shares of Pliant Therapeutics stock in a transaction that occurred on Wednesday, July 10th. The stock was 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 $1,087,148.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pliant Therapeutics news, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $126,131.16. Following the transaction, the chief financial officer now directly owns 282,115 shares of the company’s stock, valued at $3,261,249.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mike Ouimette sold 7,656 shares of the 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 completion of the sale, the general counsel now directly owns 94,044 shares of the company’s stock, valued at approximately $1,087,148.64. The disclosure for this sale can be found here. Insiders sold 69,596 shares of company stock worth $804,530 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Pliant Therapeutics

Several institutional investors have recently made changes to their positions in PLRX. Quest Partners LLC purchased a new position in Pliant Therapeutics in the fourth quarter worth approximately $37,000. Summit Securities Group LLC acquired a new position in shares of Pliant Therapeutics in the 2nd quarter valued at $59,000. SG Americas Securities LLC purchased a new position in shares of Pliant Therapeutics during the 1st quarter worth $107,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Pliant Therapeutics during the 2nd quarter worth about $126,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Pliant Therapeutics by 67.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock worth $173,000 after purchasing an additional 4,652 shares during the last quarter. Hedge funds and other 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.