Vanguard Group Inc. Boosts Stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Vanguard Group Inc. boosted its position in Pliant Therapeutics, Inc. (NASDAQ:PLRX - Free Report) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,945,312 shares of the company's stock after buying an additional 168,454 shares during the period. Vanguard Group Inc. owned approximately 4.92% of Pliant Therapeutics worth $51,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PLRX. UBS Group AG lifted its holdings in Pliant Therapeutics by 18.4% in the second quarter. UBS Group AG now owns 3,537 shares of the company's stock valued at $28,000 after acquiring an additional 550 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Pliant Therapeutics by 97.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company's stock valued at $27,000 after acquiring an additional 754 shares during the period. US Bancorp DE lifted its holdings in Pliant Therapeutics by 144.3% in the second quarter. US Bancorp DE now owns 2,150 shares of the company's stock valued at $39,000 after acquiring an additional 1,270 shares during the period. Alliancebernstein L.P. lifted its holdings in Pliant Therapeutics by 1.2% in the fourth quarter. Alliancebernstein L.P. now owns 107,978 shares of the company's stock valued at $2,087,000 after acquiring an additional 1,307 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in Pliant Therapeutics by 94.1% in the second quarter. Osaic Holdings Inc. now owns 2,746 shares of the company's stock valued at $50,000 after acquiring an additional 1,331 shares during the period. Hedge funds and other institutional investors own 97.30% of the company's stock.

Pliant Therapeutics Price Performance

Shares of PLRX traded up $0.20 during trading hours on Tuesday, hitting $14.92. 182,239 shares of the stock were exchanged, compared to its average volume of 396,176. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72. Pliant Therapeutics, Inc. has a 12-month low of $12.60 and a 12-month high of $30.85. The company has a market cap of $898.78 million, a price-to-earnings ratio of -5.34 and a beta of 1.12. The stock's 50-day moving average price is $15.77 and its two-hundred day moving average price is $15.83.

Analyst Ratings Changes

PLRX has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price target on shares of Pliant Therapeutics in a report on Wednesday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $48.00 target price on shares of Pliant Therapeutics in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada upped their target price on Pliant Therapeutics from $50.00 to $54.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 5th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pliant Therapeutics currently has a consensus rating of "Buy" and an average target price of $48.44.

Insider Buying and Selling

In related news, CEO Bernard Coulie sold 25,721 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total transaction of $443,172.83. Following the completion of the sale, the chief executive officer now directly owns 316,382 shares in the company, valued at $5,451,261.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pliant Therapeutics news, CFO Keith Lamont Cummings sold 9,781 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $17.23, for a total value of $168,526.63. Following the sale, the chief financial officer now owns 194,605 shares of the company's stock, valued at approximately $3,353,044.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bernard Coulie sold 25,721 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $17.23, for a total value of $443,172.83. Following the completion of the sale, the chief executive officer now directly owns 316,382 shares in the company, valued at approximately $5,451,261.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,485 shares of company stock worth $869,857. 5.60% of the stock is owned by corporate insiders.

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.