Pliant Therapeutics, Inc. (NASDAQ:PLRX) Stock Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 2.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,318,308 shares of the company’s stock after buying an additional 31,221 shares during the period. Geode Capital Management LLC owned 2.17% of Pliant Therapeutics worth $14,781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atria Investments Inc bought a new position in Pliant Therapeutics in the 3rd quarter valued at about $112,000. Deerfield Management Company L.P. Series C bought a new position in Pliant Therapeutics in the 2nd quarter valued at about $126,000. China Universal Asset Management Co. Ltd. grew its position in Pliant Therapeutics by 65.0% in the 3rd 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 in the last quarter. Intech Investment Management LLC bought a new position in shares of Pliant Therapeutics during the 3rd quarter valued at about $145,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Pliant Therapeutics during the 3rd quarter valued at about $342,000. Institutional investors own 97.30% of the company’s stock.

Pliant Therapeutics Price Performance

PLRX stock opened at $12.79 on Tuesday. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09. Pliant Therapeutics, Inc. has a one year low of $10.22 and a one year high of $19.62. The firm has a market capitalization of $778.32 million, a PE ratio of -3.83 and a beta of 1.05. The firm has a 50-day moving average of $13.98 and a two-hundred day moving average of $12.90.

Wall Street Analyst Weigh In

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

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.