Algert Global LLC Increases Stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Algert Global LLC increased its stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 312.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,842 shares of the company's stock after acquiring an additional 52,912 shares during the quarter. Algert Global LLC owned about 0.11% of Pliant Therapeutics worth $751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pliant Therapeutics by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,959,088 shares of the company's stock worth $58,991,000 after buying an additional 173,172 shares in the last quarter. First Light Asset Management LLC boosted its holdings in shares of Pliant Therapeutics by 22.4% during the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company's stock worth $65,047,000 after buying an additional 658,516 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 buying an additional 412,486 shares in the last quarter. Redmile Group LLC boosted its holdings in shares of Pliant Therapeutics by 14.9% during the 1st quarter. Redmile Group LLC now owns 3,097,220 shares of the company's stock worth $46,149,000 after buying an additional 400,572 shares in the last quarter. Finally, Great Point Partners LLC boosted its holdings in shares of Pliant Therapeutics by 42.4% during the 2nd quarter. Great Point Partners LLC now owns 2,636,864 shares of the company's stock worth $28,346,000 after buying an additional 785,000 shares in the last quarter. 97.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Eric Lefebvre sold 12,319 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 $142,407.64. Following the completion of the sale, the insider now directly owns 213,052 shares of the company's stock, valued at $2,462,881.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Bernard Coulie sold 38,710 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 $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 $5,582,740.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Lefebvre sold 12,319 shares of the firm'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 $142,407.64. Following the sale, the insider now directly owns 213,052 shares of the company's stock, valued at approximately $2,462,881.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $804,530 in the last ninety days. 6.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PLRX has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $38.00 target price on shares of Pliant Therapeutics in a report on Friday, September 13th. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 target price on shares of Pliant Therapeutics in a report on Thursday, August 8th. Leerink Partnrs upgraded Pliant Therapeutics to a "strong-buy" rating in a report on Monday, September 9th. Finally, Oppenheimer cut their target price on Pliant Therapeutics from $48.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $40.57.

Pliant Therapeutics Price Performance

NASDAQ PLRX traded up $0.41 on Friday, reaching $11.53. The company had a trading volume of 246,931 shares, compared to its average volume of 383,761. The company's fifty day moving average is $12.56 and its 200 day moving average is $12.74. Pliant Therapeutics, Inc. has a 52-week low of $10.22 and a 52-week high of $19.62. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.08.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.92) EPS for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.07). On average, sell-side analysts predict that Pliant Therapeutics, Inc. will post -3.71 EPS for the current fiscal year.

About Pliant Therapeutics

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.