Rhumbline Advisers Raises Stock Position in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Rhumbline Advisers grew its stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 17.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,488 shares of the company’s stock after buying an additional 14,662 shares during the period. Rhumbline Advisers owned 0.16% of Pliant Therapeutics worth $1,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Quest Partners LLC acquired a new position in Pliant Therapeutics in the fourth quarter valued at $37,000. Summit Securities Group LLC purchased a new stake in shares of Pliant Therapeutics in the 2nd quarter valued at about $59,000. SG Americas Securities LLC acquired a new stake in shares of Pliant Therapeutics in the 1st quarter valued at about $107,000. China Universal Asset Management Co. Ltd. grew its stake in 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 buying an additional 4,652 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Pliant Therapeutics by 9.1% during the first quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after buying an additional 1,203 shares during the period. 97.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Mike Ouimette sold 7,656 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,087,148.64. 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 the firm’s stock in a transaction on Wednesday, July 10th. The stock was 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 of the company’s stock, valued at $1,087,148.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric Lefebvre sold 12,319 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $142,407.64. Following the sale, the insider now owns 213,052 shares in the company, valued at $2,462,881.12. The disclosure for this sale can be found here. Insiders sold 69,596 shares of company stock valued at $804,530 in the last three months. 6.40% of the stock is currently owned by company insiders.

Pliant Therapeutics Trading Down 3.8 %

PLRX stock opened at $12.14 on Monday. The company has a fifty day moving average of $12.91 and a 200-day moving average of $13.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 14.47 and a current ratio of 14.47. Pliant Therapeutics, Inc. has a one year low of $10.29 and a one year high of $19.62.

Pliant Therapeutics (NASDAQ:PLRX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07). Research analysts forecast that Pliant Therapeutics, Inc. will post -3.71 EPS for the current year.

Analysts Set New Price Targets

PLRX has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a report on Friday, September 13th. Oppenheimer reduced 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 report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Leerink Partners initiated coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $33.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated 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. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $40.57.

Pliant Therapeutics Profile

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.