Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 34,611 Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) in the third quarter, Holdings Channel reports. The institutional investor bought 34,611 shares of the company’s stock, valued at approximately $388,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Pliant Therapeutics by 13.5% in the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock worth $51,827,000 after buying an additional 412,486 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of Pliant Therapeutics in the second quarter valued at approximately $1,372,000. Renaissance Technologies LLC boosted its stake in shares of Pliant Therapeutics by 233.8% in the second quarter. Renaissance Technologies LLC now owns 253,369 shares of the company’s stock worth $2,724,000 after acquiring an additional 177,469 shares during the last quarter. Candriam S.C.A. increased its position in shares of Pliant Therapeutics by 52.0% during the second quarter. Candriam S.C.A. now owns 833,216 shares of the company’s stock worth $8,957,000 after purchasing an additional 285,216 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Pliant Therapeutics by 1.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company’s stock valued at $897,000 after purchasing an additional 1,191 shares during the last quarter. Institutional investors and hedge funds own 97.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PLRX shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Leerink Partners began coverage on shares of Pliant Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $33.00 price target on the stock. Oppenheimer dropped their price objective on shares of Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a research report on Thursday, August 8th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $40.57.

Pliant Therapeutics Price Performance

Shares of PLRX stock opened at $13.80 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26. The company has a market capitalization of $839.73 million, a PE ratio of -4.13 and a beta of 1.08. The firm’s 50-day moving average is $13.23 and its two-hundred day moving average is $12.75. Pliant Therapeutics, Inc. has a 12 month low of $10.22 and a 12 month high of $19.62.

Pliant Therapeutics 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.