Pliant Therapeutics, Inc. (NASDAQ:PLRX) is Great Point Partners LLC’s 3rd Largest Position

Great Point Partners LLC reduced its stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 27.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,910,121 shares of the company’s stock after selling 726,743 shares during the quarter. Pliant Therapeutics comprises approximately 6.3% of Great Point Partners LLC’s portfolio, making the stock its 3rd biggest holding. Great Point Partners LLC owned approximately 3.14% of Pliant Therapeutics worth $21,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pliant Therapeutics by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,959,088 shares of the company’s stock worth $58,991,000 after purchasing an additional 173,172 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Pliant Therapeutics by 13.5% in the first quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock valued at $51,827,000 after buying an additional 412,486 shares in the last quarter. Candriam S.C.A. lifted its position in shares of Pliant Therapeutics by 52.0% during the second quarter. Candriam S.C.A. now owns 833,216 shares of the company’s stock worth $8,957,000 after purchasing an additional 285,216 shares in the last quarter. Fernwood Investment Management LLC increased its stake in Pliant Therapeutics by 3.4% during the 3rd quarter. Fernwood Investment Management LLC now owns 513,136 shares of the company’s stock worth $5,752,000 after buying an additional 16,850 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Pliant Therapeutics by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 456,663 shares of the company’s stock worth $5,119,000 after purchasing an additional 19,281 shares during the last quarter. Institutional investors and hedge funds own 97.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Leerink Partnrs raised shares of Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a report on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Finally, Oppenheimer reduced their price objective on Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Eight investment 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.com, the stock currently has a consensus rating of “Buy” and an average target price of $40.57.

Pliant Therapeutics Trading Down 0.9 %

Shares of Pliant Therapeutics stock opened at $13.34 on Wednesday. The company has a quick ratio of 10.26, a current ratio of 10.26 and a debt-to-equity ratio of 0.09. Pliant Therapeutics, Inc. has a 1-year low of $10.22 and a 1-year high of $19.62. The business’s fifty day moving average price is $13.16 and its two-hundred day moving average price is $12.75.

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.