Insider Selling: Pliant Therapeutics, Inc. (NASDAQ:PLRX) General Counsel Sells 13,270 Shares of Stock

Pliant Therapeutics, Inc. (NASDAQ:PLRX) General Counsel Mike Ouimette sold 13,270 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $11.20, for a total value of $148,624.00. Following the completion of the transaction, the general counsel now owns 80,774 shares in the company, valued at $904,668.80. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mike Ouimette also recently made the following trade(s):

• On Wednesday, January 22nd, Mike Ouimette sold 10,230 shares of Pliant Therapeutics stock. The stock was sold at an average price of $10.99, for a total transaction of $112,427.70.

Pliant Therapeutics Stock Performance

Shares of Pliant Therapeutics stock traded down $0.15 on Wednesday, reaching $10.92. The stock had a trading volume of 700,759 shares, compared to its average volume of 454,935. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26. The business’s 50-day moving average price is $13.24 and its two-hundred day moving average price is $13.08. The stock has a market cap of $664.48 million, a P/E ratio of -3.27 and a beta of 1.05. Pliant Therapeutics, Inc. has a fifty-two week low of $10.22 and a fifty-two week high of $18.92.

Pliant Therapeutics (NASDAQ:PLRX) last released its earnings results on Thursday, November 7th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.04. On average, sell-side analysts forecast that Pliant Therapeutics, Inc. will post -3.65 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Pliant Therapeutics

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in Pliant Therapeutics by 233.8% in the 2nd quarter. Renaissance Technologies LLC now owns 253,369 shares of the company’s stock worth $2,724,000 after buying an additional 177,469 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Pliant Therapeutics by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 83,483 shares of the company’s stock worth $897,000 after acquiring an additional 1,191 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Pliant Therapeutics by 233.8% during the third quarter. Harbor Capital Advisors Inc. now owns 91,979 shares of the company’s stock worth $1,031,000 after acquiring an additional 64,422 shares during the period. Atria Investments Inc acquired a new position in Pliant Therapeutics during the 3rd quarter valued at $112,000. Finally, State Street Corp boosted its holdings in Pliant Therapeutics by 1.9% in the 3rd quarter. State Street Corp now owns 1,402,730 shares of the company’s stock valued at $15,725,000 after purchasing an additional 26,610 shares during the period. Institutional investors and hedge funds own 97.30% of the company’s stock.

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.