Pliant Therapeutics (NASDAQ:PLRX) Sets New 1-Year Low at $12.35

Pliant Therapeutics, Inc. (NASDAQ:PLRX) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.35 and last traded at $12.45, with a volume of 15312 shares trading hands. The stock had previously closed at $12.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Pliant Therapeutics in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price objective on Pliant Therapeutics from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $48.00 target price on shares of Pliant Therapeutics in a research note on Wednesday, February 28th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $49.00.

Pliant Therapeutics Stock Down 2.7 %

The company has a current ratio of 17.72, a quick ratio of 17.72 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $15.32 and a 200 day simple moving average of $15.72. The firm has a market capitalization of $753.60 million, a PE ratio of -4.61 and a beta of 1.12.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in Pliant Therapeutics by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,529 shares of the company’s stock worth $27,000 after acquiring an additional 754 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Pliant Therapeutics during the first quarter worth about $27,000. UBS Group AG grew its stake in shares of Pliant Therapeutics by 18.4% in the second quarter. UBS Group AG now owns 3,537 shares of the company’s stock worth $28,000 after purchasing an additional 550 shares during the last quarter. Quest Partners LLC purchased a new position in Pliant Therapeutics during the 4th quarter valued at about $37,000. Finally, US Bancorp DE raised its position in Pliant Therapeutics by 144.3% during the 2nd quarter. US Bancorp DE now owns 2,150 shares of the company’s stock valued at $39,000 after purchasing an additional 1,270 shares during the last quarter. 97.30% of the stock is owned by hedge funds and other institutional investors.

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.