Fmr LLC Lowers Holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Fmr LLC reduced its stake in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,899,481 shares of the company’s stock after selling 12,278 shares during the quarter. Fmr LLC owned 0.06% of Pliant Therapeutics worth $43,713,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PLRX. Summit Securities Group LLC purchased a new position in shares of Pliant Therapeutics during the 2nd quarter valued at approximately $59,000. Atria Investments Inc acquired a new stake in Pliant Therapeutics during the third quarter valued at $112,000. Deerfield Management Company L.P. Series C purchased a new position in Pliant Therapeutics in the second quarter valued at $126,000. China Universal Asset Management Co. Ltd. increased its holdings in Pliant Therapeutics by 65.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock valued at $131,000 after buying an additional 4,607 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Pliant Therapeutics in the third quarter worth about $145,000. 97.30% of the stock is owned by institutional investors and hedge funds.

Pliant Therapeutics Stock Performance

Shares of NASDAQ:PLRX opened at $14.69 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. Pliant Therapeutics, Inc. has a 1 year low of $10.22 and a 1 year high of $19.62. The firm has a market capitalization of $893.89 million, a PE ratio of -4.40 and a beta of 1.05. The business’s 50 day moving average price is $13.58 and its 200-day moving average price is $12.75.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PLRX shares. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Friday, November 8th. Leerink Partners initiated coverage on Pliant Therapeutics in a research report on Monday, September 9th. They issued an “outperform” rating and a $33.00 price objective for the company. Finally, Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Pliant Therapeutics has a consensus rating of “Buy” and an average price target of $40.57.

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.