Great Point Partners LLC Raises Holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Great Point Partners LLC raised its stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 42.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,636,864 shares of the company’s stock after acquiring an additional 785,000 shares during the period. Pliant Therapeutics accounts for about 5.4% of Great Point Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Great Point Partners LLC owned about 4.34% of Pliant Therapeutics worth $28,346,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Leerink Partners began coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $33.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Friday, September 13th. Finally, Oppenheimer dropped their price target on shares of Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.57.

Insider Transactions at Pliant Therapeutics

In related news, CEO Bernard Coulie sold 38,710 shares of Pliant Therapeutics stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $447,487.60. Following the transaction, the chief executive officer now directly owns 482,936 shares in the company, valued at approximately $5,582,740.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pliant Therapeutics news, CEO Bernard Coulie sold 38,710 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $447,487.60. Following the completion of the transaction, the chief executive officer now directly owns 482,936 shares in the company, valued at $5,582,740.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Mike Ouimette sold 7,656 shares of Pliant Therapeutics 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 $88,503.36. Following the completion of the transaction, the general counsel now directly owns 94,044 shares in the company, valued at $1,087,148.64. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $804,530 in the last three months. 6.40% of the stock is currently owned by corporate insiders.

Pliant Therapeutics Price Performance

Shares of NASDAQ PLRX opened at $11.32 on Tuesday. The firm has a 50-day moving average of $12.87 and a two-hundred day moving average of $12.97. 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, Inc. has a twelve month low of $10.29 and a twelve month high of $19.62.

Pliant Therapeutics (NASDAQ:PLRX) last released 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). As a group, research analysts expect that Pliant Therapeutics, Inc. will post -3.71 EPS for the current fiscal year.

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.