Great Point Partners LLC Has $21.41 Million Holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Great Point Partners LLC cut its holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 27.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,910,121 shares of the company's stock after selling 726,743 shares during the quarter. Pliant Therapeutics accounts for 6.3% of Great Point Partners LLC's investment portfolio, making the stock its 3rd largest holding. Great Point Partners LLC owned about 3.14% of Pliant Therapeutics worth $21,412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLRX. Summit Securities Group LLC bought a new stake in Pliant Therapeutics in the 2nd quarter valued at about $59,000. Atria Investments Inc acquired a new stake in Pliant Therapeutics in the third quarter valued at approximately $112,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Pliant Therapeutics during the second quarter valued at approximately $126,000. China Universal Asset Management Co. Ltd. raised its position in shares of Pliant Therapeutics by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company's stock worth $131,000 after purchasing an additional 4,607 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Pliant Therapeutics in the 3rd quarter worth $145,000. 97.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLRX has been the subject of a number of recent research reports. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of Pliant Therapeutics in a research note on Friday, November 8th. Leerink Partnrs upgraded shares of Pliant Therapeutics to a "strong-buy" rating in a report on Monday, September 9th. Leerink Partners assumed coverage on Pliant Therapeutics in a research note on Monday, September 9th. They set an "outperform" rating and a $33.00 price target for the company. 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 dropped 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pliant Therapeutics has an average rating of "Buy" and a consensus target price of $40.57.

Pliant Therapeutics Stock Performance

Shares of PLRX traded up $0.19 on Wednesday, reaching $13.53. 333,273 shares of the company's stock traded hands, compared to its average volume of 458,086. The stock's 50 day simple moving average is $13.18 and its two-hundred day simple moving average is $12.75. The stock has a market cap of $823.30 million, a PE ratio of -4.05 and a beta of 1.08. 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 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09.

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.