Monaco Asset Management SAM Purchases Shares of 1,938,747 Pliant Therapeutics, Inc. $PLRX

Key Points

• Monaco Asset Management SAM acquired 1,938,747 Pliant Therapeutics shares worth approximately $2.21 million, representing about 3.13% of the company and 0.2% of the fund’s portfolio.
• Institutional ownership remains high at 97.3%, with several hedge funds increasing or initiating positions in PLRX during the first and second quarters.
• Pliant Therapeutics trades near its 52-week low at $1.07 after missing quarterly EPS estimates, while analysts maintain a “Reduce” consensus rating despite a $3.00 average price target.

Monaco Asset Management SAM acquired a new position in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,938,747 shares of the company's stock, valued at approximately $2,210,000. Pliant Therapeutics makes up approximately 0.2% of Monaco Asset Management SAM's investment portfolio, making the stock its 20th largest position. Monaco Asset Management SAM owned about 3.13% of Pliant Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PLRX. GSA Capital Partners LLP purchased a new position in shares of Pliant Therapeutics during the second quarter valued at approximately $185,000. Marquette Asset Management LLC purchased a new stake in Pliant Therapeutics in the 2nd quarter valued at $199,000. ADAR1 Capital Management LLC raised its position in Pliant Therapeutics by 3,402.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 2,585,126 shares of the company's stock valued at $3,257,000 after buying an additional 2,511,307 shares during the last quarter. Eversept Partners LP lifted its stake in Pliant Therapeutics by 5.9% during the 1st quarter. Eversept Partners LP now owns 891,425 shares of the company's stock valued at $1,123,000 after acquiring an additional 49,402 shares in the last quarter. Finally, Torno Capital LLC boosted its holdings in Pliant Therapeutics by 9.4% during the 1st quarter. Torno Capital LLC now owns 350,000 shares of the company's stock worth $441,000 after acquiring an additional 30,000 shares during the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

Pliant Therapeutics Stock Performance

Shares of NASDAQ PLRX opened at $1.07 on Monday. The stock has a fifty day simple moving average of $1.11 and a two-hundred day simple moving average of $1.20. Pliant Therapeutics, Inc. has a 1-year low of $1.02 and a 1-year high of $1.95. The firm has a market cap of $66.25 million, a price-to-earnings ratio of -0.72 and a beta of 1.24.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Analysts forecast that Pliant Therapeutics, Inc. will post -1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Pliant Therapeutics in a report on Friday, July 17th. Wall Street Zen downgraded Pliant Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $3.00.

Pliant Therapeutics Company 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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