Prosight Management LP Has $30,000 Position in Pliant Therapeutics, Inc. $PLRX

Prosight Management LP cut its position in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 97.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,487 shares of the company’s stock after selling 816,913 shares during the quarter. Prosight Management LP’s holdings in Pliant Therapeutics were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Jump Financial LLC bought a new stake in shares of Pliant Therapeutics during the second quarter worth about $30,000. Canada Pension Plan Investment Board acquired a new position in shares of Pliant Therapeutics in the second quarter valued at approximately $36,000. Engineers Gate Manager LP raised its holdings in 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. Catalyst Funds Management Pty Ltd bought a new position in Pliant Therapeutics in the 2nd quarter valued at approximately $39,000. Finally, Rangeley Capital LLC boosted its position in 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 period. 97.30% of the stock is owned by institutional investors and hedge funds.

Pliant Therapeutics Price Performance

Pliant Therapeutics stock opened at $1.35 on Friday. The stock’s 50 day moving average is $1.26 and its 200 day moving average is $1.43. Pliant Therapeutics, Inc. has a one year low of $1.09 and a one year high of $1.95. The firm has a market cap of $82.96 million, a P/E ratio of -0.55 and a beta of 1.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.94 and a quick ratio of 13.93.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Monday, March 16th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. As a group, research analysts expect that Pliant Therapeutics, Inc. will post -3.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLRX. Weiss Ratings reissued a “sell (e+)” rating on shares of Pliant Therapeutics in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Pliant Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Piper Sandler reduced their price objective on shares of Pliant Therapeutics from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group decreased their price objective on Pliant Therapeutics from $4.00 to $3.00 and set a “hold” rating for the company in a report on Friday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $3.00.

Insider Activity at Pliant Therapeutics

In other news, CEO Bernard Coulie sold 89,375 shares of the stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $1.28, for a total transaction of $114,400.00. Following the completion of the sale, the chief executive officer directly owned 505,601 shares in the company, valued at $647,169.28. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.00% of the company’s stock.

Pliant Therapeutics Profile

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).