Pliant Therapeutics, Inc. (NASDAQ:PLRX) Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC lessened its holdings in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,401,213 shares of the company’s stock after selling 133,780 shares during the period. Pliant Therapeutics accounts for about 3.2% of First Light Asset Management LLC’s investment portfolio, making the stock its 14th biggest holding. First Light Asset Management LLC owned 5.59% of Pliant Therapeutics worth $36,563,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in Pliant Therapeutics in the 4th quarter valued at approximately $37,000. Summit Securities Group LLC acquired a new stake in Pliant Therapeutics in the second quarter worth about $59,000. SG Americas Securities LLC bought a new position in Pliant Therapeutics in the 1st quarter valued at about $107,000. China Universal Asset Management Co. Ltd. grew its position in 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 valued at $173,000 after buying an additional 4,652 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Pliant Therapeutics by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock valued at $216,000 after buying an additional 1,203 shares during the period. Institutional investors own 97.30% of the company’s stock.

Pliant Therapeutics Price Performance

Shares of NASDAQ PLRX opened at $11.32 on Tuesday. 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, Inc. has a 12 month low of $10.29 and a 12 month high of $19.62. The business has a fifty day simple moving average of $12.87 and a 200-day simple moving average of $12.97.

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

Insider Buying and Selling

In other Pliant Therapeutics news, insider Eric Lefebvre sold 12,319 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 $142,407.64. Following the sale, the insider now directly owns 213,052 shares of the company’s stock, valued at approximately $2,462,881.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Bernard Coulie sold 38,710 shares of the business’s 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 $447,487.60. Following the transaction, the chief executive officer now directly owns 482,936 shares of the company’s stock, valued at $5,582,740.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Lefebvre sold 12,319 shares of the company’s 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 $142,407.64. Following the completion of the transaction, the insider now owns 213,052 shares in the company, valued at approximately $2,462,881.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,596 shares of company stock valued at $804,530. Company insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a report on Friday, September 13th. Leerink Partnrs raised Pliant Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Oppenheimer dropped their price objective on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Leerink Partners began coverage on Pliant Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $33.00 target price for the company. Finally, 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. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pliant Therapeutics has an average rating of “Buy” and a consensus target price of $40.57.

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.