XTX Topco Ltd Takes Position in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Key Points

• XTX Topco Ltd has made a new investment in Pliant Therapeutics, acquiring 466,842 shares valued at approximately $630,000, representing around 0.76% ownership in the company.
• Institutional investors own 97.30% of Pliant Therapeutics, with significant increases in holdings reported by firms like MetLife Investment Management and ProShare Advisors.
• Pliant Therapeutics is a clinical stage biopharmaceutical company focusing on therapies for fibrosis, with its lead candidate, bexotegrast, currently in phase 2 trials for various conditions.

XTX Topco Ltd purchased a new stake in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 466,842 shares of the company's stock, valued at approximately $630,000. XTX Topco Ltd owned approximately 0.76% of Pliant Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLRX. Federated Hermes Inc. raised its holdings in Pliant Therapeutics by 1,557.6% in the 1st quarter. Federated Hermes Inc. now owns 59,209 shares of the company's stock worth $80,000 after acquiring an additional 55,637 shares during the period. Peapod Lane Capital LLC bought a new position in Pliant Therapeutics in the 1st quarter worth $867,000. HighMark Wealth Management LLC raised its holdings in Pliant Therapeutics by 110.0% in the 1st quarter. HighMark Wealth Management LLC now owns 157,500 shares of the company's stock worth $213,000 after acquiring an additional 82,500 shares during the period. Frazier Life Sciences Management L.P. bought a new position in Pliant Therapeutics in the 4th quarter worth $14,761,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Pliant Therapeutics by 18.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,574 shares of the company's stock worth $1,838,000 after acquiring an additional 21,637 shares during the period. Institutional investors own 97.30% of the company's stock.

Pliant Therapeutics Stock Down 1.2%

NASDAQ PLRX traded down $0.02 during midday trading on Friday, hitting $1.66. The company had a trading volume of 813,189 shares, compared to its average volume of 1,043,827. The stock has a market cap of $101.91 million, a price-to-earnings ratio of -0.49 and a beta of 1.42. The firm has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $2.46. Pliant Therapeutics, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $16.10.

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

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price on shares of Pliant Therapeutics from $17.00 to $4.00 and set an "overweight" rating on the stock in a report on Friday. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Pliant Therapeutics currently has an average rating of "Hold" and an average price target 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.