Pliant Therapeutics, Inc. (NASDAQ:PLRX) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 17.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 96,488 shares of the company’s stock after acquiring an additional 14,662 shares during the period. Rhumbline Advisers’ holdings in Pliant Therapeutics were worth $1,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PLRX. First Light Asset Management LLC increased its holdings in Pliant Therapeutics by 22.4% during the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock valued at $65,047,000 after acquiring an additional 658,516 shares in the last quarter. Capital International Investors increased its stake in shares of Pliant Therapeutics by 50.9% during the 1st quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock worth $20,522,000 after purchasing an additional 464,860 shares in the last quarter. Mass General Brigham Inc acquired a new position in shares of Pliant Therapeutics during the 1st quarter worth approximately $4,301,000. Vanguard Group Inc. lifted its stake in Pliant Therapeutics by 13.5% in the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock valued at $51,827,000 after buying an additional 412,486 shares in the last quarter. Finally, Granahan Investment Management LLC grew its holdings in Pliant Therapeutics by 22.5% during the 4th quarter. Granahan Investment Management LLC now owns 1,150,766 shares of the company’s stock valued at $20,840,000 after buying an additional 211,557 shares during the last quarter. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

Pliant Therapeutics Stock Down 3.8 %

Shares of NASDAQ:PLRX opened at $12.14 on Monday. Pliant Therapeutics, Inc. has a 12-month low of $10.29 and a 12-month high of $19.62. The stock’s 50-day moving average price is $12.91 and its two-hundred day moving average price is $13.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 14.47 and a quick ratio of 14.47.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results 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, equities analysts expect that Pliant Therapeutics, Inc. will post -3.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer cut their price target on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Leerink Partners began coverage on shares of Pliant Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $33.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a report on Thursday, August 8th. Finally, Leerink Partnrs raised shares of Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pliant Therapeutics presently has an average rating of “Buy” and a consensus target price of $40.57.

Insider Buying and Selling at Pliant Therapeutics

In other news, CFO Keith Lamont Cummings sold 10,911 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $126,131.16. Following the completion of the sale, the chief financial officer now directly owns 282,115 shares of the company’s stock, valued at approximately $3,261,249.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $126,131.16. Following the transaction, the chief financial officer now directly owns 282,115 shares of the company’s stock, valued at approximately $3,261,249.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bernard Coulie sold 38,710 shares of the 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 $447,487.60. Following the sale, the chief executive officer now directly owns 482,936 shares of the company’s stock, valued at approximately $5,582,740.16. The disclosure for this sale can be found here. Insiders have sold a total of 69,596 shares of company stock worth $804,530 in the last quarter. 6.40% of the stock is owned by insiders.

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.