Pliant Therapeutics (NASDAQ:PLRX) Issues Earnings Results, Misses Estimates By $0.02 EPS

Pliant Therapeutics (NASDAQ:PLRX) posted its quarterly earnings results on Tuesday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02), FiscalAI reports.

Pliant Therapeutics Trading Down 1.0%

PLRX stock traded down $0.01 during trading on Tuesday, hitting $1.03. 220,270 shares of the company’s stock were exchanged, compared to its average volume of 614,154. The business has a 50-day moving average price of $1.12 and a two-hundred day moving average price of $1.21. The stock has a market capitalization of $63.78 million, a price-to-earnings ratio of -0.56 and a beta of 1.24. Pliant Therapeutics has a 52-week low of $1.03 and a 52-week high of $1.95.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLRX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Pliant Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $3.00.

Institutional Trading of Pliant Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rangeley Capital LLC lifted its position in shares of Pliant Therapeutics by 20.4% during the 2nd quarter. Rangeley Capital LLC now owns 60,220 shares of the company’s stock worth $70,000 after buying an additional 10,220 shares during the last quarter. Algert Global LLC grew its position in shares of Pliant Therapeutics by 17.7% in the 3rd quarter. Algert Global LLC now owns 104,382 shares of the company’s stock valued at $154,000 after buying an additional 15,692 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of Pliant Therapeutics by 139.4% in the 2nd quarter. Engineers Gate Manager LP now owns 31,423 shares of the company’s stock valued at $36,000 after buying an additional 18,300 shares during the last quarter. Invesco Ltd. raised its stake in Pliant Therapeutics by 42.2% during the 1st quarter. Invesco Ltd. now owns 68,963 shares of the company’s stock worth $93,000 after acquiring an additional 20,449 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Pliant Therapeutics during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 97.30% of the company’s stock.

About Pliant Therapeutics

Pliant Therapeutics, Inc (NASDAQ: PLRX) is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for fibrotic diseases. Headquartered in Redwood City, California, Pliant applies a precision medicine approach to target integrin-mediated signaling pathways implicated in the development and progression of fibrosis across organ systems.

The company’s lead product candidate, PLN-74809, is an oral small molecule designed to inhibit both αvβ1 and αvβ6 integrins in patients with idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).