Prosight Management LP Has $30,000 Position in Pliant Therapeutics, Inc. $PLRX

Prosight Management LP cut its holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 97.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,487 shares of the company’s stock after selling 816,913 shares during the period. Prosight Management LP’s holdings in Pliant Therapeutics were worth $30,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Pliant Therapeutics by 17.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 182,356 shares of the company’s stock valued at $270,000 after purchasing an additional 27,665 shares in the last quarter. Peapod Lane Capital LLC increased its holdings in Pliant Therapeutics by 22.7% in the third quarter. Peapod Lane Capital LLC now owns 1,097,028 shares of the company’s stock worth $1,624,000 after purchasing an additional 203,298 shares in the last quarter. Monaco Asset Management SAM lifted its stake in Pliant Therapeutics by 17.1% in the third quarter. Monaco Asset Management SAM now owns 822,693 shares of the company’s stock valued at $1,218,000 after buying an additional 120,300 shares during the period. GSA Capital Partners LLP lifted its stake in Pliant Therapeutics by 1,037.6% in the third quarter. GSA Capital Partners LLP now owns 160,884 shares of the company’s stock valued at $238,000 after buying an additional 146,742 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Pliant Therapeutics by 8.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,130,489 shares of the company’s stock worth $3,153,000 after buying an additional 172,056 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Pliant Therapeutics from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Thursday. Wall Street Zen raised shares of Pliant Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Canaccord Genuity Group reduced their price target on shares of Pliant Therapeutics from $4.00 to $3.00 and set a “hold” rating for the company in a report on Friday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pliant Therapeutics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Pliant Therapeutics presently has a consensus rating of “Reduce” and an average target price of $3.00.

Insider Transactions at Pliant Therapeutics

In other Pliant Therapeutics news, CEO Bernard Coulie sold 89,375 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $1.28, for a total transaction of $114,400.00. Following the completion of the sale, the chief executive officer owned 505,601 shares in the company, valued at approximately $647,169.28. The trade was a 15.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.00% of the company’s stock.

Pliant Therapeutics Trading Down 4.3%

Shares of Pliant Therapeutics stock opened at $1.35 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.93 and a current ratio of 13.94. Pliant Therapeutics, Inc. has a 52 week low of $1.09 and a 52 week high of $1.95. The stock has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.43. The stock has a market capitalization of $82.96 million, a PE ratio of -0.55 and a beta of 1.32.

Pliant Therapeutics (NASDAQ:PLRX) last released its quarterly earnings data on Monday, March 16th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.06. As a group, equities analysts anticipate that Pliant Therapeutics, Inc. will post -3.64 earnings per share for the current fiscal year.

About Pliant Therapeutics

Pliant Therapeutics, Inc (NASDAQ: PLRX) is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for fibrotic diseases. Headquartered in Redwood City, California, Pliant applies a precision medicine approach to target integrin-mediated signaling pathways implicated in the development and progression of fibrosis across organ systems.

The company’s lead product candidate, PLN-74809, is an oral small molecule designed to inhibit both αvβ1 and αvβ6 integrins in patients with idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).