Pliant Therapeutics, Inc. (NASDAQ:PLRX) Short Interest Update

Pliant Therapeutics, Inc. (NASDAQ:PLRX) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,980,000 shares, a growth of 21.0% from the February 28th total of 3,290,000 shares. Based on an average daily trading volume, of 2,470,000 shares, the short-interest ratio is presently 1.6 days. Approximately 7.0% of the company’s stock are sold short.

Pliant Therapeutics Price Performance

Shares of NASDAQ:PLRX traded up $0.06 during midday trading on Wednesday, reaching $1.43. 515,258 shares of the company were exchanged, compared to its average volume of 1,013,371. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09. The stock has a market cap of $87.46 million, a PE ratio of -0.43 and a beta of 1.18. The business’s fifty day moving average is $4.42 and its two-hundred day moving average is $10.11. Pliant Therapeutics has a one year low of $1.24 and a one year high of $16.52.

Pliant Therapeutics (NASDAQ:PLRX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.82) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.17. As a group, analysts predict that Pliant Therapeutics will post -3.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. HC Wainwright reissued a “neutral” rating on shares of Pliant Therapeutics in a report on Tuesday, March 18th. Needham & Company LLC reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Pliant Therapeutics in a research note on Tuesday, March 4th. Leerink Partnrs downgraded Pliant Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut shares of Pliant Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, February 10th. Finally, Leerink Partners lowered shares of Pliant Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $33.00 to $2.00 in a research report on Monday, March 3rd. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.31.

Insiders Place Their Bets

In related news, insider Hans Hull sold 15,936 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $11.20, for a total transaction of $178,483.20. Following the transaction, the insider now owns 211,558 shares in the company, valued at $2,369,449.60. This represents a 7.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mike Ouimette sold 10,230 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $10.99, for a total transaction of $112,427.70. Following the completion of the sale, the general counsel now owns 70,544 shares in the company, valued at $775,278.56. This represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,855 shares of company stock valued at $1,026,628. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pliant Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. bought a new position in shares of Pliant Therapeutics during the 4th quarter valued at approximately $14,761,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Pliant Therapeutics by 18.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,574 shares of the company’s stock valued at $1,838,000 after purchasing an additional 21,637 shares during the last quarter. Woodline Partners LP grew its stake in shares of Pliant Therapeutics by 14.0% in the 4th quarter. Woodline Partners LP now owns 127,295 shares of the company’s stock worth $1,676,000 after buying an additional 15,635 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Pliant Therapeutics by 31.8% in the 4th quarter. ProShare Advisors LLC now owns 18,931 shares of the company’s stock worth $249,000 after buying an additional 4,570 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its position in shares of Pliant Therapeutics by 3.0% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 3,197,050 shares of the company’s stock valued at $42,105,000 after buying an additional 92,564 shares in the last quarter. Hedge funds and other institutional investors own 97.30% of the company’s stock.

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.