Pliant Therapeutics (NASDAQ:PLRX) Shares Gap Down to $37.61


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Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $37.61, but opened at $36.17. Pliant Therapeutics shares last traded at $35.92, with a volume of 24 shares.

PLRX has been the topic of several research analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of Pliant Therapeutics in a research note on Monday. They issued a “buy” rating and a $52.00 price objective on the stock. Citigroup initiated coverage on shares of Pliant Therapeutics in a research note on Monday. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.50.

The stock’s 50 day simple moving average is $36.44 and its two-hundred day simple moving average is $28.47.

Pliant Therapeutics (NASDAQ:PLRX) last issued its quarterly earnings data on Monday, March 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.71) by $0.17. Pliant Therapeutics had a return on equity of 16.55% and a net margin of 20.83%. As a group, equities research analysts expect that Pliant Therapeutics, Inc. will post -2.28 earnings per share for the current fiscal year.

In related news, CEO Bernard Coulie sold 3,500 shares of Pliant Therapeutics stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $38.52, for a total value of $134,820.00. Following the completion of the transaction, the chief executive officer now directly owns 48,840 shares of the company’s stock, valued at $1,881,316.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Lefebvre sold 12,500 shares of Pliant Therapeutics stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $39.41, for a total value of $492,625.00. Following the completion of the transaction, the insider now directly owns 150,715 shares of the company’s stock, valued at $5,939,678.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,500 shares of company stock valued at $719,775.

A number of large investors have recently made changes to their positions in PLRX. California Public Employees Retirement System acquired a new position in shares of Pliant Therapeutics during the 3rd quarter worth about $425,000. BlackRock Inc. grew its position in shares of Pliant Therapeutics by 466.5% during the 3rd quarter. BlackRock Inc. now owns 484,279 shares of the company’s stock worth $10,969,000 after buying an additional 398,792 shares during the period. State Street Corp acquired a new position in shares of Pliant Therapeutics during the 3rd quarter worth about $2,723,000. JPMorgan Chase & Co. acquired a new position in shares of Pliant Therapeutics during the 3rd quarter worth about $92,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Pliant Therapeutics during the 3rd quarter worth about $1,428,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

About Pliant Therapeutics (NASDAQ:PLRX)

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrotic in the United States. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avÃ6 and avÃ1 integrins, which has completed Phase Ia single ascending dose/ multiple ascending dose trails and Phase Ib proof-of-mechanism trials for the treatment of idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

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