Redmile Group LLC Sells 12,100 Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Redmile Group LLC lessened its position in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 0.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,197,491 shares of the company’s stock after selling 12,100 shares during the period. Pliant Therapeutics makes up about 2.1% of Redmile Group LLC’s investment portfolio, making the stock its 23rd largest position. Redmile Group LLC owned about 0.05% of Pliant Therapeutics worth $35,844,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PLRX. Great Point Partners LLC increased its holdings in Pliant Therapeutics by 42.4% during the 2nd quarter. Great Point Partners LLC now owns 2,636,864 shares of the company’s stock worth $28,346,000 after purchasing an additional 785,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Pliant Therapeutics by 13.5% in the 1st quarter. Vanguard Group Inc. now owns 3,478,355 shares of the company’s stock valued at $51,827,000 after acquiring an additional 412,486 shares in the last quarter. Candriam S.C.A. grew its holdings in shares of Pliant Therapeutics by 52.0% in the 2nd quarter. Candriam S.C.A. now owns 833,216 shares of the company’s stock valued at $8,957,000 after acquiring an additional 285,216 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pliant Therapeutics by 233.8% in the 2nd quarter. Renaissance Technologies LLC now owns 253,369 shares of the company’s stock valued at $2,724,000 after acquiring an additional 177,469 shares in the last quarter. Finally, Checkpoint Capital L.P. grew its holdings in shares of Pliant Therapeutics by 63.7% in the 3rd quarter. Checkpoint Capital L.P. now owns 380,000 shares of the company’s stock valued at $4,260,000 after acquiring an additional 147,800 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

Pliant Therapeutics Price Performance

Shares of PLRX stock opened at $14.70 on Thursday. The firm has a 50 day moving average price of $13.45 and a two-hundred day moving average price of $12.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. Pliant Therapeutics, Inc. has a 12-month low of $10.22 and a 12-month high of $19.62.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLRX. Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Leerink Partners began coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $33.00 target price for the company. Finally, Oppenheimer cut their target price on shares of Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $40.57.

Pliant Therapeutics 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.