Pliant Therapeutics, Inc. (NASDAQ:PLRX) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC lowered its holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 527,147 shares of the company's stock after selling 211,105 shares during the quarter. Granahan Investment Management LLC owned approximately 0.87% of Pliant Therapeutics worth $6,943,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Deutsche Bank AG raised its holdings in shares of Pliant Therapeutics by 66.3% in the 4th quarter. Deutsche Bank AG now owns 2,551,865 shares of the company's stock valued at $33,608,000 after purchasing an additional 1,017,500 shares in the last quarter. Corton Capital Inc. purchased a new position in shares of Pliant Therapeutics in the 4th quarter worth approximately $138,000. BNP Paribas Financial Markets purchased a new position in shares of Pliant Therapeutics in the 4th quarter worth approximately $99,000. Northern Trust Corp grew its position in shares of Pliant Therapeutics by 10.7% in the 4th quarter. Northern Trust Corp now owns 555,600 shares of the company's stock worth $7,317,000 after buying an additional 53,584 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its position in shares of Pliant Therapeutics by 1,299.0% in the 4th quarter. Aquatic Capital Management LLC now owns 5,596 shares of the company's stock worth $74,000 after buying an additional 5,196 shares during the last quarter. Institutional investors own 97.30% of the company's stock.

Pliant Therapeutics Price Performance

Shares of Pliant Therapeutics stock traded down $0.09 on Tuesday, hitting $1.38. The company's stock had a trading volume of 298,609 shares, compared to its average volume of 1,074,158. The company has a market capitalization of $84.53 million, a P/E ratio of -0.42 and a beta of 1.43. The company has a quick ratio of 10.26, a current ratio of 10.26 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $1.47 and a 200-day moving average price of $7.72. Pliant Therapeutics, Inc. has a 52-week low of $1.10 and a 52-week high of $16.52.

Pliant Therapeutics (NASDAQ:PLRX - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.99) by $0.17. On average, equities research analysts expect that Pliant Therapeutics, Inc. will post -3.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLRX has been the topic of a number of analyst reports. HC Wainwright reaffirmed a "neutral" rating on shares of Pliant Therapeutics in a research report on Tuesday, March 18th. Oppenheimer reaffirmed a "market perform" rating on shares of Pliant Therapeutics in a report on Monday, February 10th. Stifel Nicolaus cut shares of Pliant Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Needham & Company LLC reissued a "hold" rating and issued a $10.00 price objective on shares of Pliant Therapeutics in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reduced their price objective on shares of Pliant Therapeutics from $4.00 to $3.00 and set a "sector perform" rating for the company in a research report on Tuesday, March 4th. Twelve investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Pliant Therapeutics presently has an average rating of "Hold" and an average 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.