Deutsche Bank AG Sells 2,504,393 Shares of Pliant Therapeutics, Inc. $PLRX

Key Points

• Deutsche Bank AG significantly reduced its stake in Pliant Therapeutics by 98.1%, ending with approximately 0.08% ownership, which reflects a total of $64,000 value held.
• In contrast, several hedge funds notably increased their positions in Pliant, with Aquatic Capital Management boosting its stake by 1,299.0% during the fourth quarter.
• Equities research analysts have downgraded the price target for Pliant Therapeutics from $17.00 to $4.00, and the stock currently has a consensus rating of "Hold" with a target price of $8.19.

Deutsche Bank AG decreased its stake in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 98.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,472 shares of the company's stock after selling 2,504,393 shares during the quarter. Deutsche Bank AG owned about 0.08% of Pliant Therapeutics worth $64,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. XTX Topco Ltd bought a new position in Pliant Therapeutics during the first quarter worth $630,000. Federated Hermes Inc. raised its holdings in shares of Pliant Therapeutics by 1,557.6% during the first quarter. Federated Hermes Inc. now owns 59,209 shares of the company's stock valued at $80,000 after purchasing an additional 55,637 shares during the period. Peapod Lane Capital LLC bought a new position in shares of Pliant Therapeutics during the 1st quarter worth about $867,000. HighMark Wealth Management LLC boosted its position in shares of Pliant Therapeutics by 110.0% during the 1st quarter. HighMark Wealth Management LLC now owns 157,500 shares of the company's stock worth $213,000 after purchasing an additional 82,500 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new stake in shares of Pliant Therapeutics in the 4th quarter valued at about $14,761,000. Institutional investors own 97.30% of the company's stock.

Pliant Therapeutics Stock Down 4.7%

Shares of PLRX stock traded down $0.08 during trading hours on Thursday, reaching $1.63. The company had a trading volume of 154,188 shares, compared to its average volume of 1,665,381. The company has a market cap of $100.06 million, a price-to-earnings ratio of -0.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 12.99 and a quick ratio of 12.99. Pliant Therapeutics, Inc. has a 12 month low of $1.10 and a 12 month high of $16.10. The business has a fifty day simple moving average of $1.49 and a 200-day simple moving average of $1.57.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLRX shares. Piper Sandler dropped their price target on Pliant Therapeutics from $17.00 to $4.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Citigroup restated a "neutral" rating on shares of Pliant Therapeutics in a report on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.19.

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.