Pliant Therapeutics (NASDAQ:PLRX) Hits New 12-Month Low at $12.35

Pliant Therapeutics, Inc. (NASDAQ:PLRX) reached a new 52-week low during trading on Thursday . The stock traded as low as $12.35 and last traded at $12.45, with a volume of 15312 shares trading hands. The stock had previously closed at $12.86.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on Pliant Therapeutics from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Pliant Therapeutics currently has a consensus rating of “Buy” and an average price target of $49.00.

Pliant Therapeutics Stock Down 2.7 %

The business has a 50-day simple moving average of $15.32 and a two-hundred day simple moving average of $15.72. The company has a market capitalization of $753.60 million, a price-to-earnings ratio of -4.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72.

Institutional Trading of Pliant Therapeutics

Several hedge funds have recently made changes to their positions in PLRX. China Universal Asset Management Co. Ltd. increased its position in Pliant Therapeutics by 97.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock worth $27,000 after purchasing an additional 754 shares during the period. Quest Partners LLC acquired a new stake in Pliant Therapeutics in the 4th quarter valued at about $37,000. US Bancorp DE grew its stake in Pliant Therapeutics by 144.3% in the 2nd 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 last quarter. Tower Research Capital LLC TRC grew its stake in Pliant Therapeutics by 271.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,449 shares of the company’s stock valued at $44,000 after acquiring an additional 1,790 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Pliant Therapeutics by 94.1% in the 2nd 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 last quarter. Institutional investors and hedge funds own 97.30% of the company’s stock.

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.