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

Pliant Therapeutics, Inc. (NASDAQ:PLRX) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 3,750,180 shares, an increase of 21.0% from the December 31st total of 3,100,213 shares. Based on an average daily trading volume, of 1,077,903 shares, the days-to-cover ratio is currently 3.5 days. Currently, 6.5% of the shares of the stock are short sold. Currently, 6.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,077,903 shares, the days-to-cover ratio is currently 3.5 days.

Pliant Therapeutics Trading Down 3.7%

Shares of Pliant Therapeutics stock traded down $0.05 during trading hours on Wednesday, reaching $1.17. The stock had a trading volume of 441,575 shares, compared to its average volume of 995,896. The firm has a market capitalization of $71.59 million, a price-to-earnings ratio of -0.41 and a beta of 1.38. The company has a current ratio of 13.94, a quick ratio of 13.93 and a debt-to-equity ratio of 0.15. Pliant Therapeutics has a 1 year low of $1.10 and a 1 year high of $12.88. The firm has a 50 day simple moving average of $1.30 and a two-hundred day simple moving average of $1.49.

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

Analysts Set New Price Targets

PLRX has been the subject of a number of recent research reports. Wall Street Zen upgraded Pliant Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Pliant Therapeutics in a report on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $3.93.

Insider Buying and Selling

In other Pliant Therapeutics news, CEO Bernard Coulie sold 89,375 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $1.28, for a total transaction of $114,400.00. Following the completion of the transaction, the chief executive officer owned 505,601 shares of the company’s stock, valued at approximately $647,169.28. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLRX. Jump Financial LLC acquired a new stake in Pliant Therapeutics during the 2nd quarter valued at $30,000. Engineers Gate Manager LP lifted its holdings 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 buying an additional 18,300 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Pliant Therapeutics during the second quarter valued at about $36,000. FNY Investment Advisers LLC acquired a new stake in shares of Pliant Therapeutics during the third quarter valued at about $37,000. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in shares of Pliant Therapeutics during the second quarter worth about $39,000. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

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).