Pliant Therapeutics (NASDAQ:PLRX) Trading Down 5.2% – What’s Next?

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s stock price dropped 5.2% during trading on Thursday . The stock traded as low as $11.90 and last traded at $11.97. Approximately 42,924 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 347,709 shares. The stock had previously closed at $12.63.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.50.

Pliant Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26. The company has a market cap of $682.13 million, a price-to-earnings ratio of -3.36 and a beta of 1.05. The firm has a 50 day simple moving average of $13.36 and a 200-day simple moving average of $13.03.

Institutional Trading of Pliant Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of Pliant Therapeutics by 17.9% in the 2nd quarter. Rhumbline Advisers now owns 96,488 shares of the company’s stock worth $1,037,000 after acquiring an additional 14,662 shares during the last quarter. American Century Companies Inc. lifted its stake in Pliant Therapeutics by 18.1% during the second quarter. American Century Companies Inc. now owns 74,113 shares of the company’s stock worth $797,000 after purchasing an additional 11,351 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Pliant Therapeutics by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock worth $3,282,000 after buying an additional 5,152 shares during the period. Renaissance Technologies LLC boosted its position 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 period. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Pliant Therapeutics by 39.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 35,368 shares of the company’s stock valued at $380,000 after buying an additional 9,950 shares during the period. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

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.