Pliant Therapeutics (NASDAQ:PLRX) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Pliant Therapeutics (NASDAQ:PLRX) from a hold rating to a sell rating in a report published on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Pliant Therapeutics in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $3.00.

Pliant Therapeutics Trading Down 0.9%

Shares of NASDAQ:PLRX opened at $1.07 on Friday. The firm has a market capitalization of $66.25 million, a PE ratio of -0.72 and a beta of 1.24. Pliant Therapeutics has a 1-year low of $1.02 and a 1-year high of $1.95. The business’s 50 day moving average is $1.11 and its 200-day moving average is $1.20.

Pliant Therapeutics (NASDAQ:PLRX) last issued its earnings results on Tuesday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). On average, sell-side analysts predict that Pliant Therapeutics will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Pliant Therapeutics

Hedge funds have recently modified their holdings of the stock. ADAR1 Capital Management LLC acquired a new stake in Pliant Therapeutics in the 2nd quarter valued at $6,281,000. Woodline Partners LP grew its position in Pliant Therapeutics by 1,875.0% in the first quarter. Woodline Partners LP now owns 2,514,084 shares of the company’s stock valued at $3,394,000 after acquiring an additional 2,386,789 shares during the period. Monaco Asset Management SAM acquired a new position in Pliant Therapeutics during the second quarter worth $2,210,000. BML Capital Management LLC acquired a new position in Pliant Therapeutics during the fourth quarter worth $1,886,000. Finally, Prosight Management LP lifted its holdings in shares of Pliant Therapeutics by 7,493.8% during the fourth quarter. Prosight Management LP now owns 1,555,744 shares of the company’s stock valued at $1,898,000 after acquiring an additional 1,535,257 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 ?v?1 and ?v?6 integrins in patients with idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).