Pliant Therapeutics, Inc. (NASDAQ:PLRX) Sees Significant Growth in Short Interest

Pliant Therapeutics, Inc. (NASDAQ:PLRX) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,980,000 shares, a growth of 21.0% from the February 28th total of 3,290,000 shares. Based on an average daily volume of 2,470,000 shares, the short-interest ratio is presently 1.6 days. Approximately 7.0% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts recently weighed in on PLRX shares. Canaccord Genuity Group reiterated a “hold” rating and issued a $4.00 price objective (down from $43.00) on shares of Pliant Therapeutics in a research note on Monday, February 10th. Citigroup decreased their price objective on Pliant Therapeutics from $4.00 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Cantor Fitzgerald restated a “neutral” rating on shares of Pliant Therapeutics in a research note on Tuesday, March 4th. Wells Fargo & Company decreased their price target on Pliant Therapeutics from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Finally, HC Wainwright restated a “neutral” rating on shares of Pliant Therapeutics in a research report on Tuesday, March 18th. Twelve investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.31.

Insider Transactions at Pliant Therapeutics

In other news, insider Hans Hull sold 15,936 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $11.20, for a total transaction of $178,483.20. Following the completion of the transaction, the insider now owns 211,558 shares in the company, valued at approximately $2,369,449.60. This represents a 7.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mike Ouimette sold 10,230 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $10.99, for a total transaction of $112,427.70. Following the sale, the general counsel now directly owns 70,544 shares in the company, valued at approximately $775,278.56. This trade represents a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,855 shares of company stock worth $1,026,628 in the last ninety days. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pliant Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paradigm Biocapital Advisors LP grew its holdings in Pliant Therapeutics by 3.0% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,197,050 shares of the company’s stock worth $42,105,000 after acquiring an additional 92,564 shares during the last quarter. Deutsche Bank AG increased its holdings in Pliant Therapeutics by 66.3% during the 4th quarter. Deutsche Bank AG now owns 2,551,865 shares of the company’s stock valued at $33,608,000 after purchasing an additional 1,017,500 shares during the period. State Street Corp raised its position in Pliant Therapeutics by 1.9% during the 3rd quarter. State Street Corp now owns 1,402,730 shares of the company’s stock valued at $15,725,000 after purchasing an additional 26,610 shares during the last quarter. Geode Capital Management LLC raised its position in Pliant Therapeutics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,318,308 shares of the company’s stock valued at $14,781,000 after purchasing an additional 31,221 shares during the last quarter. Finally, Silverarc Capital Management LLC bought a new stake in shares of Pliant Therapeutics in the 4th quarter worth approximately $17,326,000. 97.30% of the stock is currently owned by institutional investors.

Pliant Therapeutics Price Performance

NASDAQ:PLRX traded up $0.06 during mid-day trading on Wednesday, reaching $1.43. The stock had a trading volume of 515,258 shares, compared to its average volume of 1,013,371. The stock has a market capitalization of $87.46 million, a P/E ratio of -0.43 and a beta of 1.18. The firm has a 50 day moving average price of $4.42 and a two-hundred day moving average price of $10.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. Pliant Therapeutics has a one year low of $1.24 and a one year high of $16.52.

Pliant Therapeutics (NASDAQ:PLRX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.17. As a group, analysts expect that Pliant Therapeutics will post -3.64 earnings per share for the current year.

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.