Pliant Therapeutics (NASDAQ:PLRX – Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01), FiscalAI reports.
Pliant Therapeutics Stock Up 3.9%
Shares of NASDAQ:PLRX opened at $1.07 on Thursday. Pliant Therapeutics has a fifty-two week low of $1.02 and a fifty-two week high of $1.95. The stock has a market cap of $66.25 million, a price-to-earnings ratio of -0.72 and a beta of 1.24. The firm’s 50 day moving average price is $1.12 and its 200 day moving average price is $1.20.
Wall Street Analysts Forecast Growth
PLRX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Friday, July 17th. Wall Street Zen raised Pliant Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Pliant Therapeutics has an average rating of “Reduce” and an average price target of $3.00.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in PLRX. Invesco Ltd. lifted its position in shares of Pliant Therapeutics by 42.2% during the 1st quarter. Invesco Ltd. now owns 68,963 shares of the company’s stock worth $93,000 after buying an additional 20,449 shares during the last quarter. Royal Bank of Canada increased its stake in Pliant Therapeutics by 222.4% in the first quarter. Royal Bank of Canada now owns 362,702 shares of the company’s stock valued at $491,000 after purchasing an additional 250,185 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Pliant Therapeutics in the first quarter valued at about $97,000. Goldman Sachs Group Inc. raised its holdings in shares of Pliant Therapeutics by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 475,877 shares of the company’s stock valued at $642,000 after buying an additional 29,177 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in shares of Pliant Therapeutics by 1,875.0% during the first quarter. Woodline Partners LP now owns 2,514,084 shares of the company’s stock worth $3,394,000 after buying an additional 2,386,789 shares during the period. 97.30% of the stock is owned by institutional investors and hedge funds.
About Pliant Therapeutics
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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