Charles Schwab Investment Management Inc. Sells 70,035 Shares of Pliant Therapeutics, Inc. $PLRX

Charles Schwab Investment Management Inc. reduced its holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 15.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 389,349 shares of the company’s stock after selling 70,035 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of Pliant Therapeutics worth $526,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Pliant Therapeutics during the fourth quarter worth $99,000. Corton Capital Inc. bought a new position in shares of Pliant Therapeutics during the fourth quarter valued at about $138,000. ProShare Advisors LLC raised its position in Pliant Therapeutics by 31.8% in the fourth quarter. ProShare Advisors LLC now owns 18,931 shares of the company’s stock worth $249,000 after acquiring an additional 4,570 shares during the period. Federated Hermes Inc. raised its position in Pliant Therapeutics by 1,557.6% in the first quarter. Federated Hermes Inc. now owns 59,209 shares of the company’s stock worth $80,000 after acquiring an additional 55,637 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Pliant Therapeutics by 22.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,563 shares of the company’s stock worth $1,364,000 after purchasing an additional 18,678 shares in the last quarter. 97.30% of the stock is currently owned by institutional investors and hedge funds.

Pliant Therapeutics Price Performance

Shares of NASDAQ:PLRX opened at $1.71 on Thursday. The firm’s 50 day moving average price is $1.49 and its 200-day moving average price is $1.57. Pliant Therapeutics, Inc. has a twelve month low of $1.10 and a twelve month high of $16.10. The company has a quick ratio of 12.99, a current ratio of 12.99 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $104.98 million, a PE ratio of -0.50 and a beta of 1.43.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Thursday, August 7th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.09). Equities research analysts expect that Pliant Therapeutics, Inc. will post -3.64 EPS for the current year.

Analyst Upgrades and Downgrades

PLRX has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Pliant Therapeutics from $17.00 to $4.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Citigroup reaffirmed a “neutral” rating on shares of Pliant Therapeutics in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Pliant Therapeutics has an average rating of “Hold” and a consensus target price of $8.19.

Pliant Therapeutics Company 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.