Pliant Therapeutics (NASDAQ:PLRX) Trading Down 5.2% – Should You Sell?

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

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of Pliant Therapeutics in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $40.50.

Pliant Therapeutics Stock Down 3.4 %

The company has a market cap of $682.13 million, a price-to-earnings ratio of -3.36 and a beta of 1.05. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $13.36 and its 200 day simple moving average is $13.03.

Institutional Investors Weigh In On Pliant Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Pliant Therapeutics by 17.9% during the 2nd quarter. Rhumbline Advisers now owns 96,488 shares of the company’s stock worth $1,037,000 after buying an additional 14,662 shares during the last quarter. American Century Companies Inc. lifted its position in Pliant Therapeutics by 18.1% in the second quarter. American Century Companies Inc. now owns 74,113 shares of the company’s stock valued at $797,000 after acquiring an additional 11,351 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Pliant Therapeutics by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 305,322 shares of the company’s stock valued at $3,282,000 after acquiring an additional 5,152 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pliant Therapeutics by 233.8% during the second quarter. Renaissance Technologies LLC now owns 253,369 shares of the company’s stock worth $2,724,000 after purchasing an additional 177,469 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Pliant Therapeutics by 39.1% during the second quarter. Ensign Peak Advisors Inc now owns 35,368 shares of the company’s stock worth $380,000 after purchasing an additional 9,950 shares during the last quarter. Hedge funds and other 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.