Short Interest in Pliant Therapeutics, Inc. (NASDAQ:PLRX) Grows By 21.0%

Pliant Therapeutics, Inc. (NASDAQ:PLRX) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,750,180 shares, an increase of 21.0% from the December 31st total of 3,100,213 shares. Approximately 6.5% of the company’s shares are short sold. Based on an average trading volume of 1,077,903 shares, the short-interest ratio is currently 3.5 days. Based on an average trading volume of 1,077,903 shares, the short-interest ratio is currently 3.5 days. Approximately 6.5% of the company’s shares are short sold.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX traded down $0.04 during midday trading on Wednesday, hitting $1.18. The company had a trading volume of 521,598 shares, compared to its average volume of 998,341. The company has a market cap of $72.20 million, a price-to-earnings ratio of -0.41 and a beta of 1.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.94 and a quick ratio of 13.93. The company has a fifty day moving average of $1.30 and a two-hundred day moving average of $1.49. Pliant Therapeutics has a 12-month low of $1.10 and a 12-month high of $12.88.

Pliant Therapeutics (NASDAQ:PLRX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. On average, equities research analysts expect that Pliant Therapeutics will post -3.64 EPS for the current fiscal year.

Insider Activity

In other news, CEO Bernard Coulie sold 89,375 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 505,601 shares of the company’s stock, valued at approximately $647,169.28. This represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pliant Therapeutics

Several large investors have recently made changes to their positions in PLRX. Woodline Partners LP lifted its stake in Pliant Therapeutics by 1,875.0% in the first quarter. Woodline Partners LP now owns 2,514,084 shares of the company’s stock worth $3,394,000 after acquiring an additional 2,386,789 shares during the period. BML Capital Management LLC purchased a new position in Pliant Therapeutics during the fourth quarter valued at approximately $1,886,000. JPMorgan Chase & Co. raised its stake in Pliant Therapeutics by 307.1% in the second quarter. JPMorgan Chase & Co. now owns 1,958,433 shares of the company’s stock worth $2,272,000 after buying an additional 1,477,336 shares in the last quarter. Monaco Asset Management SAM purchased a new stake in Pliant Therapeutics during the second quarter worth $815,000. Finally, Two Sigma Investments LP boosted its position in Pliant Therapeutics by 181.6% during the 3rd quarter. Two Sigma Investments LP now owns 783,255 shares of the company’s stock valued at $1,159,000 after acquiring an additional 505,097 shares in the last quarter. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Thursday, January 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Pliant Therapeutics in a report on Friday, October 10th. Finally, Wall Street Zen raised Pliant Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Pliant Therapeutics currently has a consensus rating of “Reduce” and a consensus target price of $3.93.

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).