Pliant Therapeutics (NASDAQ:PLRX) Shares Gap Down to $20.60

Pliant Therapeutics, Inc. (NASDAQ:PLRXGet Rating)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $20.60, but opened at $19.78. Pliant Therapeutics shares last traded at $19.78, with a volume of 2 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLRX. Piper Sandler raised their target price on Pliant Therapeutics from $27.00 to $40.00 in a research note on Monday, July 11th. Cantor Fitzgerald raised their target price on Pliant Therapeutics from $28.00 to $36.00 in a research note on Monday, July 11th. SVB Leerink began coverage on Pliant Therapeutics in a research note on Wednesday, July 20th. They set an “outperform” rating and a $33.00 target price for the company. Royal Bank of Canada raised their target price on Pliant Therapeutics from $35.00 to $54.00 in a research note on Monday, July 11th. Finally, HC Wainwright increased their price target on shares of Pliant Therapeutics from $45.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $41.50.

Pliant Therapeutics Trading Up 1.4 %

The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $18.08 and its 200-day simple moving average is $10.85.

Insiders Place Their Bets

In other Pliant Therapeutics news, insider Eric Lefebvre sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $20.00, for a total value of $60,000.00. Following the transaction, the insider now owns 138,436 shares of the company’s stock, valued at $2,768,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pliant Therapeutics news, insider Eric Lefebvre sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $20.00, for a total value of $60,000.00. Following the transaction, the insider now owns 138,436 shares of the company’s stock, valued at $2,768,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bernard Coulie sold 15,000 shares of Pliant Therapeutics stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $22.50, for a total value of $337,500.00. Following the sale, the chief executive officer now directly owns 59,273 shares in the company, valued at approximately $1,333,642.50. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pliant Therapeutics

A number of hedge funds have recently made changes to their positions in PLRX. Point72 Asset Management L.P. bought a new stake in shares of Pliant Therapeutics during the fourth quarter valued at approximately $15,324,000. Laurion Capital Management LP acquired a new position in shares of Pliant Therapeutics during the second quarter valued at approximately $3,770,000. First Light Asset Management LLC increased its stake in shares of Pliant Therapeutics by 87.0% during the second quarter. First Light Asset Management LLC now owns 769,370 shares of the company’s stock valued at $6,163,000 after acquiring an additional 358,042 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Pliant Therapeutics by 202.2% during the second quarter. Goldman Sachs Group Inc. now owns 431,224 shares of the company’s stock valued at $3,454,000 after acquiring an additional 288,539 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Pliant Therapeutics by 1,316.5% during the second quarter. Deutsche Bank AG now owns 308,618 shares of the company’s stock valued at $2,472,000 after acquiring an additional 286,831 shares during the period. Institutional investors own 67.71% of the company’s stock.

Pliant Therapeutics Company Profile

(Get Rating)

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. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avß6 and avß1 integrins, which is in three Phase 2a trials.

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