Redmile Group LLC Acquires 400,572 Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Redmile Group LLC increased its stake in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 14.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,097,220 shares of the company’s stock after buying an additional 400,572 shares during the quarter. Pliant Therapeutics comprises approximately 1.7% of Redmile Group LLC’s investment portfolio, making the stock its 22nd biggest position. Redmile Group LLC owned about 5.13% of Pliant Therapeutics worth $46,149,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in Pliant Therapeutics by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,959,088 shares of the company’s stock worth $58,991,000 after purchasing an additional 173,172 shares in the last quarter. Capital International Investors grew its stake in Pliant Therapeutics by 50.9% during the first quarter. Capital International Investors now owns 1,377,327 shares of the company’s stock worth $20,522,000 after purchasing an additional 464,860 shares during the period. EntryPoint Capital LLC increased its stake in shares of Pliant Therapeutics by 99.8% in the 1st quarter. EntryPoint Capital LLC now owns 20,006 shares of the company’s stock valued at $298,000 after acquiring an additional 9,992 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Pliant Therapeutics by 13.5% during the first quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock valued at $51,827,000 after purchasing an additional 412,486 shares during the period. Finally, ProShare Advisors LLC raised its stake in Pliant Therapeutics by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after buying an additional 1,203 shares during the period. Institutional investors own 97.30% of the company’s stock.

Insider Transactions at Pliant Therapeutics

In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $88,503.36. Following the completion of the sale, the general counsel now owns 94,044 shares in the company, valued at $1,087,148.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pliant Therapeutics news, General Counsel Mike Ouimette sold 7,656 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total transaction of $88,503.36. Following the completion of the sale, the general counsel now owns 94,044 shares of the company’s stock, valued at approximately $1,087,148.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bernard Coulie sold 38,710 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $447,487.60. Following the completion of the sale, the chief executive officer now owns 482,936 shares of the company’s stock, valued at approximately $5,582,740.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,596 shares of company stock worth $804,530. 6.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PLRX shares. Royal Bank of Canada dropped their price target on shares of Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Tuesday, July 16th. Oppenheimer upped their price target on Pliant Therapeutics from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Citigroup dropped their price objective on Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of Pliant Therapeutics in a research note on Tuesday, July 16th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $45.38.

Pliant Therapeutics Price Performance

Pliant Therapeutics stock traded up $0.51 during trading on Monday, hitting $13.88. The stock had a trading volume of 1,805,491 shares, compared to its average volume of 483,451. The stock’s 50 day moving average is $11.96 and its two-hundred day moving average is $14.09. Pliant Therapeutics, Inc. has a 1 year low of $10.29 and a 1 year high of $20.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 16.12 and a quick ratio of 16.12.

Pliant Therapeutics (NASDAQ:PLRX) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.02). Analysts predict that Pliant Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

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.