Pliant Therapeutics (NASDAQ:PLRX) Stock Price Down 5.2% – Here’s What Happened

Pliant Therapeutics, Inc. (NASDAQ:PLRX) shares were down 5.2% during trading on Thursday . The stock traded as low as $11.90 and last traded at $11.97. Approximately 42,924 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 347,709 shares. The stock had previously closed at $12.63.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pliant Therapeutics in a report on Friday, November 8th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pliant Therapeutics currently has an average rating of “Buy” and a consensus price target of $40.50.

Pliant Therapeutics Price Performance

The business’s 50-day simple moving average is $13.57 and its two-hundred day simple moving average is $13.04. The stock has a market cap of $734.76 million, a price-to-earnings ratio of -3.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.26 and a quick ratio of 10.26.

Institutional Investors Weigh In On Pliant Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of PLRX. Atria Investments Inc acquired a new stake in shares of Pliant Therapeutics during the third quarter valued at about $112,000. Deerfield Management Company L.P. Series C bought a new stake in Pliant Therapeutics during the 2nd quarter worth approximately $126,000. China Universal Asset Management Co. Ltd. increased its position in Pliant Therapeutics by 65.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock valued at $131,000 after acquiring an additional 4,607 shares during the period. Intech Investment Management LLC bought a new position in shares of Pliant Therapeutics during the third quarter valued at $145,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Pliant Therapeutics during the third quarter worth $342,000. 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.