Pliant Therapeutics, Inc. (NASDAQ:PLRX) Short Interest Down 51.0% in February

Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 3,540,000 shares, a decline of 51.0% from the January 31st total of 7,230,000 shares. Based on an average daily trading volume, of 1,500,000 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

PLRX has been the topic of several research analyst reports. Cantor Fitzgerald reiterated a "neutral" rating on shares of Pliant Therapeutics in a research note on Tuesday. Wells Fargo & Company decreased their price target on shares of Pliant Therapeutics from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut shares of Pliant Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Monday, February 10th. Canaccord Genuity Group reiterated a "hold" rating and issued a $4.00 price target (down previously from $43.00) on shares of Pliant Therapeutics in a research note on Monday, February 10th. Finally, HC Wainwright reiterated a "neutral" rating on shares of Pliant Therapeutics in a research note on Tuesday. Twelve analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $13.31.

Insider Activity at Pliant Therapeutics

In related news, insider Hans Hull sold 15,936 shares of Pliant Therapeutics stock in a transaction on Friday, January 17th. The shares were sold at an average price of $11.20, for a total transaction of $178,483.20. Following the transaction, the insider now owns 211,558 shares in the company, valued at approximately $2,369,449.60. The trade was a 7.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bernard Coulie sold 52,419 shares of Pliant Therapeutics stock in a transaction on Friday, January 17th. The shares were sold at an average price of $11.20, for a total transaction of $587,092.80. Following the transaction, the chief executive officer now owns 430,517 shares in the company, valued at approximately $4,821,790.40. This trade represents a 10.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,855 shares of company stock worth $1,026,628. 6.40% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On Pliant Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PLRX. China Universal Asset Management Co. Ltd. grew its stake in Pliant Therapeutics by 65.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company's stock worth $131,000 after acquiring an additional 4,607 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in Pliant Therapeutics by 23.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 157,217 shares of the company's stock worth $1,762,000 after acquiring an additional 29,583 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Pliant Therapeutics by 233.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91,979 shares of the company's stock worth $1,031,000 after purchasing an additional 64,422 shares during the period. Fernwood Investment Management LLC lifted its position in shares of Pliant Therapeutics by 3.4% in the 3rd quarter. Fernwood Investment Management LLC now owns 513,136 shares of the company's stock worth $5,752,000 after purchasing an additional 16,850 shares during the period. Finally, Atria Investments Inc purchased a new stake in shares of Pliant Therapeutics in the 3rd quarter worth approximately $112,000. 97.30% of the stock is currently owned by institutional investors.

Pliant Therapeutics Price Performance

Shares of Pliant Therapeutics stock traded up $0.17 during trading hours on Wednesday, reaching $1.52. The company's stock had a trading volume of 8,306,307 shares, compared to its average volume of 844,338. The stock has a market cap of $92.50 million, a P/E ratio of -0.46 and a beta of 1.03. Pliant Therapeutics has a one year low of $1.27 and a one year high of $16.52. The firm has a 50 day moving average price of $8.60 and a 200-day moving average price of $11.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.17. On average, analysts predict that Pliant Therapeutics will post -3.64 EPS for the current 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.