Silverarc Capital Management LLC Acquires Shares of 1,315,601 Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Silverarc Capital Management LLC bought a new stake in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,315,601 shares of the company's stock, valued at approximately $17,326,000. Pliant Therapeutics makes up about 3.8% of Silverarc Capital Management LLC's holdings, making the stock its 9th largest position. Silverarc Capital Management LLC owned about 2.16% of Pliant Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in Pliant Therapeutics during the 4th quarter valued at about $33,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pliant Therapeutics in the fourth quarter valued at approximately $108,000. Atria Investments Inc increased its holdings in shares of Pliant Therapeutics by 18.1% in the fourth quarter. Atria Investments Inc now owns 11,821 shares of the company's stock valued at $156,000 after purchasing an additional 1,812 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Pliant Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,903 shares of the company's stock worth $170,000 after buying an additional 1,209 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Pliant Therapeutics during the fourth quarter worth $256,000. Institutional investors and hedge funds own 97.30% of the company's stock.

Pliant Therapeutics Trading Down 7.0 %

Shares of NASDAQ PLRX traded down $0.11 during trading on Friday, reaching $1.46. The stock had a trading volume of 653,198 shares, compared to its average volume of 1,063,609. The business's 50-day moving average price is $1.73 and its 200-day moving average price is $8.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. Pliant Therapeutics, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $16.52. The company has a market cap of $89.62 million, a P/E ratio of -0.44 and a beta of 1.46.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HC Wainwright reiterated a "neutral" rating on shares of Pliant Therapeutics in a report on Tuesday, March 18th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Pliant Therapeutics in a research note on Tuesday, March 4th. Stifel Nicolaus cut shares of Pliant Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Royal Bank of Canada reduced their price target on shares of Pliant Therapeutics from $4.00 to $3.00 and set a "sector perform" rating on the stock in a research report on Tuesday, March 4th. Finally, Citigroup lowered their price objective on Pliant Therapeutics from $4.00 to $1.50 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $13.31.

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.