Pliant Therapeutics (NASDAQ:PLRX) Shares Gap Up to $12.00

Pliant Therapeutics, Inc. (NASDAQ:PLRX) gapped up before the market opened on Monday . The stock had previously closed at $12.00, but opened at $12.31. Pliant Therapeutics shares last traded at $12.09, with a volume of 16,568 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a research report on Friday. Leerink Partners began coverage on shares of Pliant Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $33.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Thursday, August 8th. Finally, Oppenheimer lowered their target price on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Pliant Therapeutics presently has an average rating of “Buy” and a consensus target price of $40.57.

Pliant Therapeutics Stock Performance

The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $12.84 and a two-hundred day simple moving average of $13.13.

Pliant Therapeutics (NASDAQ:PLRX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.07). As a group, research analysts expect that Pliant Therapeutics, Inc. will post -3.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Pliant Therapeutics

In other Pliant Therapeutics news, CFO Keith Lamont Cummings sold 10,911 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $126,131.16. Following the completion of the sale, the chief financial officer now directly owns 282,115 shares of the company’s stock, valued at $3,261,249.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Bernard Coulie sold 38,710 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $447,487.60. Following the completion of the sale, the chief executive officer now owns 482,936 shares of the company’s stock, valued at $5,582,740.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Keith Lamont Cummings sold 10,911 shares of the firm’s 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 approximately $3,261,249.40. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock worth $804,530 over the last ninety days. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pliant Therapeutics

A number of institutional investors have recently modified their holdings of PLRX. First Light Asset Management LLC boosted its holdings in Pliant Therapeutics by 22.4% in the fourth quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock valued at $65,047,000 after acquiring an additional 658,516 shares in the last quarter. Capital International Investors grew its holdings in shares of Pliant Therapeutics by 50.9% during the 1st quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock worth $20,522,000 after acquiring an additional 464,860 shares during the period. Mass General Brigham Inc bought a new position in shares of Pliant Therapeutics in the 1st quarter worth approximately $4,301,000. Vanguard Group Inc. lifted its stake in shares of Pliant Therapeutics by 13.5% in the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock valued at $51,827,000 after purchasing an additional 412,486 shares during the period. Finally, Granahan Investment Management LLC boosted its position in shares of Pliant Therapeutics by 22.5% during the fourth quarter. Granahan Investment Management LLC now owns 1,150,766 shares of the company’s stock valued at $20,840,000 after purchasing an additional 211,557 shares in the last quarter. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

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.