Pliant Therapeutics (NASDAQ:PLRX) Hits New 1-Year Low at $10.24

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.24 and last traded at $10.39, with a volume of 12824 shares changing hands. The stock had previously closed at $10.55.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Leerink Partners began 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. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Friday, September 13th. Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average 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 quick ratio of 14.47 and a current ratio of 14.47. The stock’s 50-day moving average is $12.68 and its 200-day moving average is $12.80.

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

Insider Activity

In other Pliant Therapeutics news, CFO Keith Lamont Cummings sold 10,911 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 value of $126,131.16. Following the transaction, the chief financial officer now owns 282,115 shares of the company’s stock, valued at $3,261,249.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Bernard Coulie sold 38,710 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $447,487.60. Following the sale, 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 document filed with the SEC, which is available at this link. Also, CFO Keith Lamont Cummings sold 10,911 shares of the stock in a transaction dated Wednesday, July 10th. The stock was 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 directly owns 282,115 shares in the company, valued at $3,261,249.40. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $804,530 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Pliant Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Pliant Therapeutics during the second quarter valued at about $59,000. SG Americas Securities LLC purchased a new stake in Pliant Therapeutics in the first quarter worth approximately $107,000. Deerfield Management Company L.P. Series C bought a new position in Pliant Therapeutics during the second quarter valued at approximately $126,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Pliant Therapeutics by 67.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,581 shares of the company’s stock worth $173,000 after acquiring an additional 4,652 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Pliant Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after acquiring an additional 1,203 shares during the last quarter. Institutional investors own 97.30% of the company’s stock.

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.