Y Intercept Hong Kong Ltd Takes $342,000 Position in Pliant Therapeutics, Inc. (NASDAQ:PLRX)

Y Intercept Hong Kong Ltd purchased a new position in Pliant Therapeutics, Inc. (NASDAQ:PLRX) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 30,471 shares of the company’s stock, valued at approximately $342,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLRX. Great Point Partners LLC boosted its stake in shares of Pliant Therapeutics by 42.4% in the 2nd quarter. Great Point Partners LLC now owns 2,636,864 shares of the company’s stock valued at $28,346,000 after purchasing an additional 785,000 shares in the last quarter. State Street Corp boosted its position in Pliant Therapeutics by 1.9% in the third quarter. State Street Corp now owns 1,402,730 shares of the company’s stock valued at $15,725,000 after buying an additional 26,610 shares in the last quarter. Candriam S.C.A. grew its position in Pliant Therapeutics by 52.0% during the 2nd quarter. Candriam S.C.A. now owns 833,216 shares of the company’s stock worth $8,957,000 after acquiring an additional 285,216 shares during the last quarter. Fernwood Investment Management LLC increased its stake in shares of Pliant Therapeutics by 3.4% in the third quarter. Fernwood Investment Management LLC now owns 513,136 shares of the company’s stock valued at $5,752,000 after buying an additional 16,850 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Pliant Therapeutics by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 456,663 shares of the company’s stock valued at $5,119,000 after acquiring an additional 19,281 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PLRX shares. Leerink Partners initiated coverage on Pliant Therapeutics in a report on Monday, September 9th. They set an “outperform” rating and a $33.00 price objective on the stock. Leerink Partnrs upgraded Pliant Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a research report on Friday, November 8th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $40.50.

Pliant Therapeutics Trading Up 4.7 %

NASDAQ PLRX opened at $14.37 on Wednesday. The company has a current ratio of 10.26, a quick ratio of 10.26 and a debt-to-equity ratio of 0.09. Pliant Therapeutics, Inc. has a 12 month low of $10.22 and a 12 month high of $19.62. The company has a market capitalization of $874.47 million, a PE ratio of -4.30 and a beta of 1.05. The stock has a 50-day simple moving average of $14.00 and a 200 day simple moving average of $12.80.

About Pliant Therapeutics

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. The company's lead candidate is bexotegrast, an oral, small-molecule, dual selective inhibitor of avß6 and avß1 integrins, which is in phase 2b trials for idiopathic pulmonary fibrosis and in phase 2a trial for primary sclerosing cholangitis.