Pliant Therapeutics (NASDAQ:PLRX) Stock Price Down 4.2%

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price dropped 4.2% during mid-day trading on Wednesday . The company traded as low as $12.37 and last traded at $12.44. Approximately 74,609 shares traded hands during trading, a decline of 84% from the average daily volume of 456,942 shares. The stock had previously closed at $12.98.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLRX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Pliant Therapeutics in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a research note on Friday. Leerink Partnrs upgraded shares of Pliant Therapeutics to a “strong-buy” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research report on Thursday, August 8th. 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.57.

Pliant Therapeutics Price Performance

The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $12.81 and a 200 day moving average price of $13.22.

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 anticipate that Pliant Therapeutics, Inc. will post -3.71 earnings per share for the current fiscal year.

Insider Transactions at Pliant Therapeutics

In related news, insider Eric Lefebvre sold 12,319 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 value of $142,407.64. Following the completion of 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 can be accessed through this hyperlink. In related news, CFO Keith Lamont Cummings sold 10,911 shares of the stock in a transaction on 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric Lefebvre sold 12,319 shares of the business’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 $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. Insiders sold a total of 69,596 shares of company stock valued at $804,530 over the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pliant Therapeutics

Several large investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in Pliant Therapeutics in the fourth quarter valued at approximately $37,000. Summit Securities Group LLC acquired a new stake in shares of Pliant Therapeutics in the 2nd quarter valued at $59,000. SG Americas Securities LLC bought a new stake in Pliant Therapeutics in the first quarter worth $107,000. Deerfield Management Company L.P. Series C acquired a new position in Pliant Therapeutics during the second quarter worth $126,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in 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 valued at $173,000 after buying an additional 4,652 shares in 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.