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

Pliant Therapeutics, Inc. (NASDAQ:PLRX) was the target of a large decline in short interest in 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. Approximately 5.5% of the shares of the stock are sold short. 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. Approximately 5.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in shares of Pliant Therapeutics in the third quarter valued at $37,000. Jump Financial LLC bought a new position in Pliant Therapeutics during the 2nd quarter valued at about $30,000. Canada Pension Plan Investment Board bought a new position in Pliant Therapeutics during the 2nd quarter valued at about $36,000. Engineers Gate Manager LP raised its position in 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 purchasing an additional 18,300 shares during the period. Finally, Catalyst Funds Management Pty Ltd bought a new stake in Pliant Therapeutics in the second quarter worth about $39,000. 97.30% of the stock is owned by hedge funds and other institutional investors.

Pliant Therapeutics Trading Up 0.8%

Shares of NASDAQ PLRX opened at $1.22 on Friday. The business’s 50 day moving average is $1.47 and its two-hundred day moving average is $1.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.94 and a quick ratio of 13.93. Pliant Therapeutics has a 1-year low of $1.10 and a 1-year high of $13.71. The stock has a market capitalization of $74.97 million, a P/E ratio of -0.42 and a beta of 1.36.

Pliant Therapeutics (NASDAQ:PLRX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. As a group, research analysts expect that Pliant Therapeutics will post -3.64 EPS for the current year.

Pliant Therapeutics Company Profile

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).