Pliant Therapeutics (NASDAQ:PLRX) Trading Down 4.9% - Time to Sell?

Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report)'s stock price fell 4.9% during trading on Monday . The company traded as low as $12.59 and last traded at $12.89. 102,040 shares changed hands during trading, a decline of 78% from the average session volume of 468,235 shares. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PLRX shares. Leerink Partners began coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They issued an "outperform" rating and a $33.00 price objective for the company. Leerink Partnrs upgraded Pliant Therapeutics to a "strong-buy" rating in a research note on Monday, September 9th. Finally, HC Wainwright reissued a "buy" rating and set a $38.00 price target on shares of Pliant Therapeutics in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $40.50.

Pliant Therapeutics Price Performance

The company's 50-day moving average is $13.98 and its 200-day moving average is $12.90. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09. The firm has a market cap of $778.32 million, a price-to-earnings ratio of -3.83 and a beta of 1.05.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rice Hall James & Associates LLC bought a new stake in shares of Pliant Therapeutics during the 2nd quarter valued at approximately $1,372,000. Renaissance Technologies LLC grew its stake in shares of Pliant Therapeutics by 233.8% during the second quarter. Renaissance Technologies LLC now owns 253,369 shares of the company's stock worth $2,724,000 after buying an additional 177,469 shares during the last quarter. Candriam S.C.A. increased its holdings 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 buying an additional 285,216 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Pliant Therapeutics by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company's stock valued at $897,000 after acquiring an additional 1,191 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Pliant Therapeutics by 233.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 91,979 shares of the company's stock valued at $1,031,000 after acquiring an additional 64,422 shares in the last quarter. Institutional investors and hedge funds own 97.30% of the company's stock.

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.