First Light Asset Management LLC Reduces Stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

First Light Asset Management LLC lowered its position in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 34.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,681,110 shares of the company's stock after selling 894,436 shares during the period. Pliant Therapeutics comprises about 2.1% of First Light Asset Management LLC's investment portfolio, making the stock its 17th biggest holding. First Light Asset Management LLC owned approximately 2.76% of Pliant Therapeutics worth $22,140,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new position in Pliant Therapeutics during the 4th quarter valued at approximately $33,000. Aquatic Capital Management LLC raised its holdings 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 acquiring an additional 5,196 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Pliant Therapeutics in the fourth quarter worth $108,000. Atria Investments Inc boosted its holdings in Pliant Therapeutics by 18.1% in the fourth quarter. Atria Investments Inc now owns 11,821 shares of the company's stock valued at $156,000 after acquiring an additional 1,812 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Pliant Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,903 shares of the company's stock valued at $170,000 after purchasing an additional 1,209 shares during the period. Hedge funds and other institutional investors own 97.30% of the company's stock.

Pliant Therapeutics Stock Up 4.3 %

NASDAQ:PLRX traded up $0.07 on Friday, reaching $1.69. 762,075 shares of the stock traded hands, compared to its average volume of 1,068,902. The company's fifty day simple moving average is $1.58 and its 200 day simple moving average is $8.35. The company has a market capitalization of $103.74 million, a price-to-earnings ratio of -0.51 and a beta of 1.46. Pliant Therapeutics, Inc. has a 12 month low of $1.10 and a 12 month high of $16.52. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.82) earnings per share for the quarter, topping analysts' consensus estimates of ($0.99) by $0.17. Equities analysts predict that Pliant Therapeutics, Inc. will post -3.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLRX has been the topic of several research analyst reports. Oppenheimer reiterated a "market perform" rating on shares of Pliant Therapeutics in a research report on Monday, February 10th. Cantor Fitzgerald reissued a "neutral" rating on shares of Pliant Therapeutics in a research report on Tuesday, March 4th. Stifel Nicolaus lowered Pliant Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Citigroup decreased their price objective on Pliant Therapeutics from $4.00 to $1.50 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, HC Wainwright reissued a "neutral" rating on shares of Pliant Therapeutics in a research report on Tuesday, March 18th. Twelve research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Pliant Therapeutics presently has an average rating of "Hold" and a consensus price target of $13.31.

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.