Pliant Therapeutics, Inc. (NASDAQ:PLRX) Shares Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its holdings in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 265.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,200 shares of the company's stock after acquiring an additional 123,600 shares during the period. Polar Asset Management Partners Inc. owned 0.28% of Pliant Therapeutics worth $1,908,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in Pliant Therapeutics in the 2nd quarter valued at $59,000. Atria Investments Inc acquired a new position in shares of Pliant Therapeutics during the third quarter worth about $112,000. Deerfield Management Company L.P. Series C acquired a new position in Pliant Therapeutics during the 2nd quarter worth approximately $126,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 valued at $131,000 after buying an additional 4,607 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Pliant Therapeutics in the third quarter valued at approximately $145,000. 97.30% of the stock is owned by institutional investors and hedge funds.

Pliant Therapeutics Stock Up 2.9 %

Shares of NASDAQ PLRX traded up $0.41 on Friday, hitting $14.69. The company had a trading volume of 328,779 shares, compared to its average volume of 459,885. The company has a quick ratio of 10.26, a current ratio of 10.26 and a debt-to-equity ratio of 0.09. Pliant Therapeutics, Inc. has a 12-month low of $10.22 and a 12-month high of $19.62. The firm has a market capitalization of $893.95 million, a P/E ratio of -4.34 and a beta of 1.05. The business has a 50 day moving average of $13.51 and a two-hundred day moving average of $12.75.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Pliant Therapeutics in a report on Thursday, August 8th. Leerink Partners initiated coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They set an "outperform" rating and a $33.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $38.00 price objective on shares of Pliant Therapeutics in a research report on Friday, November 8th. Finally, Leerink Partnrs upgraded Pliant Therapeutics to a "strong-buy" rating in a report on Monday, September 9th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $40.57.

Pliant Therapeutics 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.