Pliant Therapeutics (NASDAQ:PLRX) Sets New 1-Year Low at $11.91

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.91 and last traded at $11.91, with a volume of 159953 shares changing hands. The stock had previously closed at $12.52.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLRX. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Pliant Therapeutics in a report on Wednesday, April 10th. Royal Bank of Canada boosted their target price on Pliant Therapeutics from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of Pliant Therapeutics in a research report on Wednesday, February 28th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Pliant Therapeutics currently has a consensus rating of “Buy” and an average price target of $49.00.

Pliant Therapeutics Stock Performance

The firm has a fifty day moving average price of $14.71 and a 200 day moving average price of $15.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 17.72 and a current ratio of 17.72. The stock has a market cap of $712.38 million, a PE ratio of -4.23 and a beta of 1.12.

Hedge Funds Weigh In On Pliant Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLRX. First Light Asset Management LLC raised its stake in shares of Pliant Therapeutics by 22.4% during the 4th quarter. First Light Asset Management LLC now owns 3,591,776 shares of the company’s stock valued at $65,047,000 after buying an additional 658,516 shares during the last quarter. Rhenman & Partners Asset Management AB purchased a new position in shares of Pliant Therapeutics during the 3rd quarter valued at about $5,733,000. Mass General Brigham Inc purchased a new position in shares of Pliant Therapeutics during the 1st quarter valued at about $4,301,000. UBS Group AG grew its position in shares of Pliant Therapeutics by 8,855.2% during the 3rd quarter. UBS Group AG now owns 270,804 shares of the company’s stock valued at $4,696,000 after acquiring an additional 267,780 shares during the period. Finally, Granahan Investment Management LLC grew its position in shares of Pliant Therapeutics by 22.5% during the 4th quarter. Granahan Investment Management LLC now owns 1,150,766 shares of the company’s stock valued at $20,840,000 after acquiring an additional 211,557 shares during the period. Hedge funds and other institutional investors own 97.30% of the company’s stock.

About Pliant Therapeutics

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.