Pliant Therapeutics, Inc. (NASDAQ:PLRX - Get Free Report)'s stock price fell 8.7% during mid-day trading on Friday . The stock traded as low as $10.68 and last traded at $10.91. 176,235 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 472,033 shares. The stock had previously closed at $11.95.
Analyst Upgrades and Downgrades
Several analysts have recently commented on PLRX shares. JPMorgan Chase & Co. downgraded Pliant Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Monday. Royal Bank of Canada lowered Pliant Therapeutics from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $45.00 to $4.00 in a report on Monday. HC Wainwright lowered Pliant Therapeutics from a "buy" rating to a "neutral" rating in a report on Monday. Wells Fargo & Company lowered shares of Pliant Therapeutics from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $41.00 to $4.00 in a report on Monday. Finally, Oppenheimer reissued a "market perform" rating on shares of Pliant Therapeutics in a research note on Monday. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Pliant Therapeutics currently has an average rating of "Hold" and a consensus target price of $17.75.
Get Our Latest Stock Analysis on Pliant Therapeutics
Pliant Therapeutics Stock Performance
The stock has a 50 day simple moving average of $12.18 and a two-hundred day simple moving average of $12.79. The company has a market cap of $165.52 million, a PE ratio of -0.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26.
Insider Buying and Selling
In other Pliant Therapeutics news, insider Hans Hull sold 15,936 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $11.20, for a total value of $178,483.20. Following the transaction, the insider now directly owns 211,558 shares of the company's stock, valued at $2,369,449.60. This represents a 7.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bernard Coulie sold 52,419 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $11.20, for a total transaction of $587,092.80. Following the transaction, the chief executive officer now directly owns 430,517 shares of the company's stock, valued at approximately $4,821,790.40. This represents a 10.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,855 shares of company stock worth $1,026,628 in the last ninety days. Insiders own 6.40% of the company's stock.
Institutional Investors Weigh In On Pliant Therapeutics
Several large investors have recently added to or reduced their stakes in PLRX. Hennion & Walsh Asset Management Inc. boosted its position in shares of Pliant Therapeutics by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 91,974 shares of the company's stock valued at $1,031,000 after purchasing an additional 23,685 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Pliant Therapeutics by 65.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company's stock valued at $131,000 after buying an additional 4,607 shares during the last quarter. Rice Hall James & Associates LLC grew its position in Pliant Therapeutics by 23.2% in the third quarter. Rice Hall James & Associates LLC now owns 157,217 shares of the company's stock worth $1,762,000 after acquiring an additional 29,583 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Pliant Therapeutics by 233.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 91,979 shares of the company's stock valued at $1,031,000 after purchasing an additional 64,422 shares during the last quarter. Finally, Fernwood Investment Management LLC increased its position in Pliant Therapeutics by 3.4% during the third quarter. Fernwood Investment Management LLC now owns 513,136 shares of the company's stock worth $5,752,000 after buying an additional 16,850 shares during the last quarter. 97.30% of the stock is owned by institutional investors and hedge funds.
Pliant Therapeutics Company Profile
(
Get Free Report)
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.
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