BML Capital Management LLC Buys Shares of 1,546,137 Pliant Therapeutics, Inc. $PLRX

Key Points

• BML Capital Management bought 1,546,137 shares of Pliant Therapeutics in Q4 (about $1.89M), holding roughly 2.52% of the company and making PLRX its 10th-largest position.
• Institutional ownership is very high at 97.30%, and several major funds (Woodline, JPMorgan, Two Sigma) recently boosted or established sizable stakes, indicating broad institutional interest.
• Pliant is a clinical-stage biotech (lead candidate PLN-74809) with a market cap of ~$74.9M and negative earnings; analysts have mixed views and the consensus rating is "Reduce" with a $3.00 price target.

BML Capital Management LLC bought a new stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,546,137 shares of the company's stock, valued at approximately $1,886,000. Pliant Therapeutics makes up approximately 1.6% of BML Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. BML Capital Management LLC owned approximately 2.52% of Pliant Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLRX. Woodline Partners LP grew its stake in Pliant Therapeutics by 1,875.0% in the first quarter. Woodline Partners LP now owns 2,514,084 shares of the company's stock valued at $3,394,000 after purchasing an additional 2,386,789 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Pliant Therapeutics by 307.1% in the second quarter. JPMorgan Chase & Co. now owns 1,958,433 shares of the company's stock valued at $2,272,000 after purchasing an additional 1,477,336 shares in the last quarter. Two Sigma Investments LP grew its stake in Pliant Therapeutics by 181.6% in the third quarter. Two Sigma Investments LP now owns 783,255 shares of the company's stock valued at $1,159,000 after purchasing an additional 505,097 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Pliant Therapeutics in the third quarter valued at about $543,000. Finally, Sei Investments Co. purchased a new position in Pliant Therapeutics in the second quarter valued at about $345,000. Hedge funds and other institutional investors own 97.30% of the company's stock.

Pliant Therapeutics Stock Performance

PLRX opened at $1.21 on Wednesday. The company has a market cap of $74.92 million, a PE ratio of -0.50 and a beta of 1.20. The stock has a 50-day moving average of $1.29 and a 200-day moving average of $1.36. Pliant Therapeutics, Inc. has a 52-week low of $1.09 and a 52-week high of $1.95.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last announced its earnings results on Wednesday, March 11th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.09. On average, research analysts predict that Pliant Therapeutics, Inc. will post -1.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PLRX shares. Canaccord Genuity Group decreased their price target on Pliant Therapeutics from $4.00 to $3.00 and set a "hold" rating for the company in a research note on Friday, March 13th. Wall Street Zen upgraded Pliant Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday. Piper Sandler decreased their price target on Pliant Therapeutics from $4.00 to $3.00 and set an "overweight" rating for the company in a research note on Thursday, March 12th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Pliant Therapeutics in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $3.00.

Pliant Therapeutics Profile

Pliant Therapeutics, Inc NASDAQ: PLRX is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for fibrotic diseases. Headquartered in Redwood City, California, Pliant applies a precision medicine approach to target integrin-mediated signaling pathways implicated in the development and progression of fibrosis across organ systems.

The company's lead product candidate, PLN-74809, is an oral small molecule designed to inhibit both αvβ1 and αvβ6 integrins in patients with idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).

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