Pliant Therapeutics (NASDAQ:PLRX) Sets New 12-Month Low at $10.24

Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.24 and last traded at $10.39, with a volume of 12824 shares traded. The stock had previously closed at $10.55.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLRX. HC Wainwright reiterated a "buy" rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research note on Friday, September 13th. Oppenheimer decreased their price objective on shares of Pliant Therapeutics from $48.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC restated a "buy" rating and set a $38.00 price target on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. Finally, Leerink Partners assumed coverage on Pliant Therapeutics in a research report on Monday, September 9th. They issued an "outperform" rating and a $33.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $40.57.

Pliant Therapeutics Stock Up 3.4 %

The firm has a 50 day moving average price of $12.68 and a 200 day moving average price of $12.80. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.08.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.07). Sell-side analysts expect that Pliant Therapeutics, Inc. will post -3.71 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Pliant Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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 purchasing an additional 658,516 shares during the last quarter. Mass General Brigham Inc acquired a new position in Pliant Therapeutics in the first quarter valued at approximately $4,301,000. Capital International Investors boosted its position in Pliant Therapeutics by 50.9% in the 1st quarter. Capital International Investors now owns 1,377,327 shares of the company's stock worth $20,522,000 after purchasing an additional 464,860 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Pliant Therapeutics by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company's stock worth $51,827,000 after purchasing an additional 412,486 shares during the period. Finally, Granahan Investment Management LLC increased its holdings in shares of Pliant Therapeutics by 22.5% during the 4th 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 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.