Pliant Therapeutics (NASDAQ:PLRX) Trading Down 7% – Here’s Why

Pliant Therapeutics, Inc. (NASDAQ:PLRX)’s stock price traded down 7% during trading on Monday . The stock traded as low as $1.07 and last traded at $1.07. 795,872 shares were traded during trading, an increase of 32% from the average daily volume of 601,572 shares. The stock had previously closed at $1.15.

Analyst Ratings Changes

Several research firms have issued reports on PLRX. Wall Street Zen upgraded shares of Pliant Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Pliant Therapeutics presently has a consensus rating of “Reduce” and an average price target of $3.00.

Pliant Therapeutics Stock Performance

The stock has a 50-day simple moving average of $1.16 and a 200 day simple moving average of $1.23. The company has a market cap of $66.25 million, a P/E ratio of -0.58 and a beta of 1.21.

Pliant Therapeutics (NASDAQ:PLRX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.04. Sell-side analysts anticipate that Pliant Therapeutics, Inc. will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pliant Therapeutics

Institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new stake in Pliant Therapeutics in the 2nd quarter valued at $30,000. Public Employees Retirement System of Ohio acquired a new position in shares of Pliant Therapeutics in the 1st quarter valued at $36,000. Engineers Gate Manager LP lifted its holdings in shares of Pliant Therapeutics by 139.4% during the 2nd quarter. Engineers Gate Manager LP now owns 31,423 shares of the company’s stock worth $36,000 after acquiring an additional 18,300 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Pliant Therapeutics during the 2nd quarter worth about $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Pliant Therapeutics during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 97.30% of the company’s stock.

Pliant Therapeutics Company Profile

Pliant Therapeutics, Inc (NASDAQ: PLRX) is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for fibrotic diseases. Headquartered in Redwood City, California, Pliant applies a precision medicine approach to target integrin-mediated signaling pathways implicated in the development and progression of fibrosis across organ systems.

The company’s lead product candidate, PLN-74809, is an oral small molecule designed to inhibit both αvβ1 and αvβ6 integrins in patients with idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).