Bank of America Corp DE Decreases Stock Holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Bank of America Corp DE lowered its holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 80.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,977 shares of the company's stock after selling 506,719 shares during the quarter. Bank of America Corp DE owned 0.20% of Pliant Therapeutics worth $1,593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aquatic Capital Management LLC increased its stake in shares of Pliant Therapeutics by 1,299.0% in the fourth quarter. Aquatic Capital Management LLC now owns 5,596 shares of the company's stock worth $74,000 after acquiring an additional 5,196 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Pliant Therapeutics in the fourth quarter worth $99,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Pliant Therapeutics in the fourth quarter worth $108,000. Atria Investments Inc increased its stake 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 worth $156,000 after acquiring an additional 1,812 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Pliant Therapeutics in the fourth quarter worth $256,000. Institutional investors and hedge funds own 97.30% of the company's stock.

Pliant Therapeutics Price Performance

PLRX stock traded up $0.02 during trading on Friday, hitting $1.63. The stock had a trading volume of 956,804 shares, compared to its average volume of 1,120,672. 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, Inc. has a twelve month low of $1.10 and a twelve month high of $16.10. The stock has a market capitalization of $100.06 million, a P/E ratio of -0.49 and a beta of 1.35. The company's 50-day moving average price is $1.42 and its two-hundred day moving average price is $6.05.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PLRX shares. Needham & Company LLC reiterated a "hold" rating and issued a $10.00 price objective on shares of Pliant Therapeutics in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price objective 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, March 4th. Oppenheimer restated a "market perform" rating on shares of Pliant Therapeutics in a research report on Monday, February 10th. Leerink Partnrs lowered shares of Pliant Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Canaccord Genuity Group restated a "hold" rating and set a $4.00 price target (down previously from $43.00) on shares of Pliant Therapeutics in a research report on Monday, February 10th. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.31.

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.