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

Pliant Therapeutics, Inc. (NASDAQ:PLRX) traded down 2.7% on Wednesday . The company traded as low as $12.26 and last traded at $12.26. 20,745 shares changed hands during trading, a decline of 95% from the average session volume of 457,836 shares. The stock had previously closed at $12.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Leerink Partnrs raised shares of Pliant Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners assumed coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $33.00 target price for the company. Oppenheimer decreased their target price 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 target price on shares of Pliant Therapeutics in a research note on Friday, September 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pliant Therapeutics currently has a consensus rating of “Buy” and an average price target of $40.57.

Pliant Therapeutics Stock 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 company’s fifty day moving average is $12.89 and its 200-day moving average is $13.08.

Pliant Therapeutics (NASDAQ:PLRX) last issued 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 predict that Pliant Therapeutics, Inc. will post -3.71 EPS for the current year.

Insider Transactions at Pliant Therapeutics

In other news, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics 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 transaction, the chief financial officer now owns 282,115 shares in the company, valued at approximately $3,261,249.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of Pliant Therapeutics stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $88,503.36. Following the sale, the general counsel now directly owns 94,044 shares in the company, valued at approximately $1,087,148.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith Lamont Cummings sold 10,911 shares of Pliant Therapeutics 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 owns 282,115 shares in the company, valued at $3,261,249.40. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock worth $804,530 in the last 90 days. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Pliant Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PLRX. Quest Partners LLC bought a new stake in shares of Pliant Therapeutics in the 4th quarter worth about $37,000. Summit Securities Group LLC bought a new stake in shares of Pliant Therapeutics in the 2nd quarter worth about $59,000. SG Americas Securities LLC bought a new stake in shares of Pliant Therapeutics in the 1st quarter worth about $107,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Pliant Therapeutics in the 2nd quarter worth about $126,000. Finally, China Universal Asset Management Co. Ltd. increased 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 worth $173,000 after buying an additional 4,652 shares during the last quarter. 97.30% of the stock is currently owned by 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.