Pliant Therapeutics (NASDAQ:PLRX) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Pliant Therapeutics (NASDAQ:PLRX) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pliant Therapeutics presently has a consensus rating of “Hold” and an average price target of $3.00.

Pliant Therapeutics Stock Performance

PLRX stock opened at $0.80 on Friday. The company’s 50 day moving average is $1.00 and its 200 day moving average is $1.15. Pliant Therapeutics has a 1-year low of $0.79 and a 1-year high of $1.81.

Pliant Therapeutics (NASDAQ:PLRX) last announced its earnings results on Tuesday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Research analysts forecast that Pliant Therapeutics will post -1.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pliant Therapeutics

Several institutional investors have recently modified their holdings of PLRX. ADAR1 Capital Management LLC purchased a new position in shares of Pliant Therapeutics during the 2nd quarter valued at about $6,281,000. Monaco Asset Management SAM purchased a new stake in Pliant Therapeutics in the second quarter worth approximately $2,210,000. Renaissance Technologies LLC grew its position in Pliant Therapeutics by 77.2% during the first quarter. Renaissance Technologies LLC now owns 1,852,842 shares of the company’s stock valued at $2,335,000 after acquiring an additional 807,024 shares during the last quarter. BlackRock Inc. bought a new position in Pliant Therapeutics during the second quarter valued at approximately $1,312,000. Finally, Eversept Partners LP grew its position in Pliant Therapeutics by 5.9% during the first quarter. Eversept Partners LP now owns 891,425 shares of the company’s stock valued at $1,123,000 after acquiring an additional 49,402 shares during the last quarter. 97.30% of the stock is currently owned by institutional investors.

About Pliant Therapeutics

Pliant Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing therapies for fibrotic diseases. The company’s research is centered on integrin biology, a field involving proteins that regulate cell communication and tissue remodeling. Pliant aims to develop medicines that address the underlying processes that drive fibrosis in organs such as the lungs and liver.

Pliant’s lead investigational product is bexotegrast, an oral, selective inhibitor of the integrins ?v?1 and ?v?6.