Pliant Therapeutics, Inc. (NASDAQ:PLRX) Sees Significant Drop in Short Interest

by · The Markets Daily

Pliant Therapeutics, Inc. (NASDAQ:PLRX – Get Free Report) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 3,182,879 shares, a decline of 20.3% from the November 30th total of 3,993,673 shares. Currently, 5.5% of the company’s shares are short sold. Based on an average daily volume of 2,720,571 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 2,720,571 shares, the days-to-cover ratio is presently 1.2 days. Currently, 5.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

PLRX has been the subject of several recent analyst reports. Wall Street Zen raised Pliant Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Pliant Therapeutics in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Pliant Therapeutics in a research report on Friday, October 10th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Pliant Therapeutics currently has a consensus rating of “Reduce” and an average price target of $3.93.

Read Our Latest Research Report on Pliant Therapeutics

Institutional Trading of Pliant Therapeutics

Several hedge funds have recently bought and sold shares of PLRX. FNY Investment Advisers LLC bought a new stake in Pliant Therapeutics during the 3rd quarter valued at $37,000. Jump Financial LLC acquired a new position in shares of Pliant Therapeutics during the second quarter valued at about $30,000. Canada Pension Plan Investment Board bought a new stake in shares of Pliant Therapeutics during the second quarter worth about $36,000. Engineers Gate Manager LP raised its holdings in shares of Pliant Therapeutics by 139.4% in the 2nd quarter. Engineers Gate Manager LP now owns 31,423 shares of the company’s stock worth $36,000 after acquiring an additional 18,300 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of Pliant Therapeutics in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 97.30% of the company’s stock.

Pliant Therapeutics Stock Up 0.8%

Pliant Therapeutics stock traded up $0.01 during midday trading on Wednesday, reaching $1.22. The stock had a trading volume of 1,049,092 shares, compared to its average volume of 1,466,580. The company has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $1.50. Pliant Therapeutics has a 12 month low of $1.10 and a 12 month high of $13.71. The company has a current ratio of 13.94, a quick ratio of 13.93 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $74.97 million, a P/E ratio of -0.42 and a beta of 1.29.

Pliant Therapeutics (NASDAQ:PLRX – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.10. As a group, equities analysts expect that Pliant Therapeutics will post -3.64 EPS for the current fiscal year.

Pliant Therapeutics Company Profile

(Get Free Report)

Pliant Therapeutics, Inc (NASDAQ: PLRX) is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for fibrotic diseases. Headquartered in Redwood City, California, Pliant applies a precision medicine approach to target integrin-mediated signaling pathways implicated in the development and progression of fibrosis across organ systems.

The company’s lead product candidate, PLN-74809, is an oral small molecule designed to inhibit both αvβ1 and αvβ6 integrins in patients with idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).

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