Eventide Asset Management LLC Sells 2,140,739 Shares of Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Eventide Asset Management LLC lessened its stake in shares of Pliant Therapeutics, Inc. (NASDAQ:PLRXGet Rating) by 98.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,499 shares of the company’s stock after selling 2,140,739 shares during the period. Eventide Asset Management LLC’s holdings in Pliant Therapeutics were worth $574,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Pliant Therapeutics by 45.1% during the 3rd quarter. Royal Bank of Canada now owns 2,390 shares of the company’s stock valued at $40,000 after acquiring an additional 743 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Pliant Therapeutics by 16.8% in the 3rd quarter. Citigroup Inc. now owns 4,927 shares of the company’s stock worth $83,000 after buying an additional 708 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Pliant Therapeutics by 25.8% in the 2nd quarter. Bank of America Corp DE now owns 8,624 shares of the company’s stock worth $251,000 after purchasing an additional 1,768 shares during the period. Invesco Ltd. bought a new stake in Pliant Therapeutics during the 2nd quarter valued at $276,000. Finally, Difesa Capital Management LP bought a new stake in Pliant Therapeutics during the 4th quarter valued at $138,000. Hedge funds and other institutional investors own 85.44% of the company’s stock.

NASDAQ:PLRX traded up $0.34 during midday trading on Wednesday, hitting $5.27. The stock had a trading volume of 13,445 shares, compared to its average volume of 162,533. Pliant Therapeutics, Inc. has a one year low of $3.96 and a one year high of $33.95. The company has a market capitalization of $190.61 million, a price-to-earnings ratio of -1.85 and a beta of 1.13. The stock has a 50-day moving average of $6.47 and a 200 day moving average of $10.45.

Pliant Therapeutics (NASDAQ:PLRXGet Rating) last announced its quarterly earnings data on Monday, February 28th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08. The company had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $3.70 million. Pliant Therapeutics had a negative return on equity of 48.97% and a negative net margin of 1,542.15%. As a group, research analysts predict that Pliant Therapeutics, Inc. will post -3.35 EPS for the current year.

Several brokerages have recently commented on PLRX. Piper Sandler lowered their price objective on shares of Pliant Therapeutics from $63.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, May 17th. Cantor Fitzgerald started coverage on shares of Pliant Therapeutics in a research note on Wednesday. They set an “overweight” rating and a $28.00 price target on the stock. Zacks Investment Research downgraded shares of Pliant Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, May 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Pliant Therapeutics in a report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $33.86.

About Pliant Therapeutics (Get Rating)

Pliant Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes novel therapies for the treatment of fibrosis and related diseases in the United States. Its lead product candidate is PLN-74809, an oral small-molecule dual selective inhibitor of avß6 and avß1 integrins, which is in three Phase 2a trials.

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Institutional Ownership by Quarter for Pliant Therapeutics (NASDAQ:PLRX)

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