Pliant Therapeutics, Inc. (NASDAQ:PLRX) Shares Acquired by Redmile Group LLC

Redmile Group LLC raised its holdings in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 14.9% in the first quarter, Holdings Channel.com reports. The firm owned 3,097,220 shares of the company’s stock after buying an additional 400,572 shares during the period. Pliant Therapeutics comprises 1.7% of Redmile Group LLC’s portfolio, making the stock its 22nd largest holding. Redmile Group LLC owned approximately 0.05% of Pliant Therapeutics worth $46,149,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Pliant Therapeutics in the 4th quarter worth about $37,000. China Universal Asset Management Co. Ltd. increased its holdings in Pliant Therapeutics by 353.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,929 shares of the company’s stock valued at $125,000 after buying an additional 5,400 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Pliant Therapeutics during the first quarter valued at approximately $107,000. Arizona State Retirement System lifted its holdings in Pliant Therapeutics by 6.4% during the 4th quarter. Arizona State Retirement System now owns 12,545 shares of the company’s stock worth $227,000 after buying an additional 754 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Pliant Therapeutics by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 14,489 shares of the company’s stock worth $216,000 after acquiring an additional 1,203 shares in the last quarter. Institutional investors and hedge funds own 97.30% of the company’s stock.

Insider Activity at Pliant Therapeutics

In other Pliant Therapeutics news, CEO Bernard Coulie sold 38,710 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $11.56, for a total value of $447,487.60. Following the completion of the sale, the chief executive officer now directly owns 482,936 shares of the company’s stock, valued at $5,582,740.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Keith Lamont Cummings sold 10,911 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total transaction of $126,131.16. Following the transaction, the chief financial officer now owns 282,115 shares of the company’s stock, valued at approximately $3,261,249.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Bernard Coulie sold 38,710 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $11.56, for a total value of $447,487.60. Following the completion of the sale, the chief executive officer now owns 482,936 shares of the company’s stock, valued at $5,582,740.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,596 shares of company stock valued at $804,530. Corporate insiders own 6.40% of the company’s stock.

Pliant Therapeutics Price Performance

Shares of PLRX stock traded up $0.51 on Monday, reaching $13.88. 1,805,491 shares of the company’s stock traded hands, compared to its average volume of 483,451. The business’s 50 day moving average price is $11.96 and its two-hundred day moving average price is $14.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 16.12 and a current ratio of 16.12. Pliant Therapeutics, Inc. has a 12-month low of $10.29 and a 12-month high of $20.23.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Monday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.02). Research analysts forecast that Pliant Therapeutics, Inc. will post -3.44 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on PLRX. Oppenheimer upped their price target on Pliant Therapeutics from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Citigroup dropped their target price on shares of Pliant Therapeutics from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a report on Tuesday, July 16th. Royal Bank of Canada dropped their price target on Pliant Therapeutics from $54.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Finally, HC Wainwright reissued a “buy” rating and set a $36.00 target price on shares of Pliant Therapeutics in a research note on Tuesday, July 16th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $45.38.

About Pliant Therapeutics

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.