CW Advisors LLC Takes Position in Pliant Therapeutics, Inc. $PLRX

Key Points

• CW Advisors LLC has acquired a new stake in Pliant Therapeutics, purchasing 422,311 shares valued at approximately $570,000, representing about 0.69% of the company.
• The company's stock price is currently at $1.62, and it has seen a significant price update since posting earnings results that missed consensus estimates.
• Analyst ratings for Pliant Therapeutics are mixed, with an average rating of "Hold" and a target price drop from $17 to $4 reported by Piper Sandler.

CW Advisors LLC purchased a new stake in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 422,311 shares of the company's stock, valued at approximately $570,000. CW Advisors LLC owned about 0.69% of Pliant Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. MetLife Investment Management LLC grew its stake in shares of Pliant Therapeutics by 11.9% during the fourth quarter. MetLife Investment Management LLC now owns 36,788 shares of the company's stock valued at $484,000 after purchasing an additional 3,925 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Pliant Therapeutics by 31.8% during the fourth quarter. ProShare Advisors LLC now owns 18,931 shares of the company's stock valued at $249,000 after purchasing an additional 4,570 shares during the last quarter. Aquatic Capital Management LLC grew its stake in shares of Pliant Therapeutics by 1,299.0% during the fourth quarter. Aquatic Capital Management LLC now owns 5,596 shares of the company's stock valued at $74,000 after purchasing an additional 5,196 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Pliant Therapeutics during the fourth quarter valued at approximately $99,000. Finally, American Century Companies Inc. grew its stake in shares of Pliant Therapeutics by 9.2% during the first quarter. American Century Companies Inc. now owns 110,093 shares of the company's stock valued at $149,000 after purchasing an additional 9,244 shares during the last quarter. 97.30% of the stock is owned by institutional investors.

Pliant Therapeutics Trading Up 8.7%

PLRX opened at $1.62 on Wednesday. The firm's fifty day moving average is $1.45 and its two-hundred day moving average is $1.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 12.99 and a current ratio of 12.99. The firm has a market cap of $99.45 million, a PE ratio of -0.48 and a beta of 1.42. Pliant Therapeutics, Inc. has a twelve month low of $1.10 and a twelve month high of $16.10.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.09). Equities research analysts anticipate that Pliant Therapeutics, Inc. will post -3.64 EPS for the current year.

Analyst Ratings Changes

PLRX has been the topic of several analyst reports. Piper Sandler cut their price objective on shares of Pliant Therapeutics from $17.00 to $4.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Citigroup restated a "neutral" rating on shares of Pliant Therapeutics in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.19.

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.

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