Checkpoint Capital L.P. Has $4.26 Million Stock Holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Checkpoint Capital L.P. grew its position in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 63.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 380,000 shares of the company’s stock after acquiring an additional 147,800 shares during the quarter. Pliant Therapeutics accounts for 2.1% of Checkpoint Capital L.P.’s portfolio, making the stock its 8th biggest holding. Checkpoint Capital L.P.’s holdings in Pliant Therapeutics were worth $4,260,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Algert Global LLC increased its holdings in shares of Pliant Therapeutics by 52.6% in the 3rd quarter. Algert Global LLC now owns 106,562 shares of the company’s stock worth $1,195,000 after buying an additional 36,720 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Pliant Therapeutics by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 456,663 shares of the company’s stock worth $5,119,000 after acquiring an additional 19,281 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Pliant Therapeutics during the third quarter valued at approximately $145,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Pliant Therapeutics in the 3rd quarter valued at approximately $388,000. Finally, Atria Investments Inc purchased a new position in shares of Pliant Therapeutics in the 3rd quarter worth approximately $112,000. 97.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLRX has been the topic of several recent analyst reports. Oppenheimer reduced their target price on shares of Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. Leerink Partners began coverage on shares of Pliant Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $33.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a research report on Friday, November 8th. Finally, Leerink Partnrs raised shares of Pliant Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Pliant Therapeutics has a consensus rating of “Buy” and a consensus price target of $40.57.

Pliant Therapeutics Stock Up 2.0 %

Shares of PLRX stock opened at $13.80 on Monday. Pliant Therapeutics, Inc. has a twelve month low of $10.22 and a twelve month high of $19.62. The stock has a market cap of $839.79 million, a P/E ratio of -4.13 and a beta of 1.08. The stock has a 50 day moving average of $13.23 and a 200 day moving average of $12.73. 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 Company 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.