State Street Corp Raises Position in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

State Street Corp increased its position in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,402,730 shares of the company’s stock after acquiring an additional 26,610 shares during the quarter. State Street Corp owned about 2.31% of Pliant Therapeutics worth $15,725,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PLRX. The Manufacturers Life Insurance Company increased its position in shares of Pliant Therapeutics by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company’s stock valued at $897,000 after buying an additional 1,191 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Pliant Therapeutics by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock valued at $131,000 after buying an additional 4,607 shares during the period. Dimensional Fund Advisors LP grew its position in Pliant Therapeutics by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock worth $3,282,000 after acquiring an additional 5,152 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Pliant Therapeutics by 39.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 35,368 shares of the company’s stock worth $380,000 after acquiring an additional 9,950 shares during the last quarter. Finally, Atria Investments Inc purchased a new stake in Pliant Therapeutics in the 3rd quarter worth approximately $112,000. Institutional investors own 97.30% of the company’s stock.

Pliant Therapeutics Trading Up 1.1 %

Shares of PLRX stock opened at $13.49 on Wednesday. Pliant Therapeutics, Inc. has a 52-week low of $10.22 and a 52-week high of $19.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. The firm has a market capitalization of $820.92 million, a PE ratio of -4.04 and a beta of 1.05. The stock has a fifty day simple moving average of $14.07 and a two-hundred day simple moving average of $12.84.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLRX. Leerink Partnrs raised Pliant Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners initiated coverage on Pliant Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $33.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $40.50.

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.