Monaco Asset Management SAM Purchases New Position in Pliant Therapeutics, Inc. $PLRX

Monaco Asset Management SAM acquired a new stake in Pliant Therapeutics, Inc. (NASDAQ:PLRX) in the second quarter, Holdings Channel.com reports. The firm acquired 1,938,747 shares of the company’s stock, valued at approximately $2,210,000. Pliant Therapeutics makes up approximately 0.2% of Monaco Asset Management SAM’s portfolio, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BML Capital Management LLC bought a new position in shares of Pliant Therapeutics in the fourth quarter worth $1,886,000. ADAR1 Capital Management LLC raised its stake in shares of Pliant Therapeutics by 3,402.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,585,126 shares of the company’s stock valued at $3,257,000 after purchasing an additional 2,511,307 shares during the period. Renaissance Technologies LLC lifted its holdings in Pliant Therapeutics by 77.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,852,842 shares of the company’s stock worth $2,335,000 after purchasing an additional 807,024 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in Pliant Therapeutics during the 4th quarter worth about $47,000. Finally, Canada Pension Plan Investment Board bought a new position in Pliant Therapeutics in the 2nd quarter worth about $36,000. Institutional investors own 97.30% of the company’s stock.

Pliant Therapeutics Price Performance

NASDAQ:PLRX opened at $1.07 on Monday. The stock has a market cap of $66.25 million, a P/E ratio of -0.72 and a beta of 1.24. The business’s 50-day moving average price is $1.11 and its two-hundred day moving average price is $1.20. Pliant Therapeutics, Inc. has a twelve month low of $1.02 and a twelve month high of $1.95.

Pliant Therapeutics (NASDAQ:PLRX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). On average, equities research analysts expect that Pliant Therapeutics, Inc. will post -1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLRX. Wall Street Zen lowered Pliant Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Pliant Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Pliant Therapeutics 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).