Pliant Therapeutics, Inc. (NASDAQ:PLRX) is Checkpoint Capital L.P.’s 8th Largest Position

Checkpoint Capital L.P. lifted its holdings in Pliant Therapeutics, Inc. (NASDAQ:PLRX) by 63.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 380,000 shares of the company’s stock after purchasing an additional 147,800 shares during the period. Pliant Therapeutics comprises approximately 2.1% of Checkpoint Capital L.P.’s holdings, making the stock its 8th biggest position. Checkpoint Capital L.P. owned approximately 0.62% of Pliant Therapeutics worth $4,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLRX. Summit Securities Group LLC bought a new position in Pliant Therapeutics in the second quarter worth approximately $59,000. Atria Investments Inc bought a new position in Pliant Therapeutics in the 3rd quarter worth $112,000. Deerfield Management Company L.P. Series C purchased a new position in Pliant Therapeutics during the second quarter valued at $126,000. China Universal Asset Management Co. Ltd. grew its holdings in Pliant Therapeutics by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,694 shares of the company’s stock valued at $131,000 after purchasing an additional 4,607 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Pliant Therapeutics in the third quarter worth about $145,000. Hedge funds and other institutional investors own 97.30% of the company’s stock.

Wall Street Analyst Weigh In

PLRX has been the topic of a number of analyst reports. Leerink Partnrs raised Pliant Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Oppenheimer lowered their price target on shares of Pliant Therapeutics from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Pliant Therapeutics in a research note on Thursday, August 8th. Leerink Partners assumed coverage on shares of Pliant Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $33.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pliant Therapeutics in a report on Friday, November 8th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.57.

Pliant Therapeutics Price Performance

Shares of NASDAQ:PLRX opened at $13.80 on Monday. The firm has a market cap of $839.79 million, a price-to-earnings ratio of -4.13 and a beta of 1.08. The firm has a fifty day moving average price of $13.23 and a 200 day moving average price of $12.73. Pliant Therapeutics, Inc. has a fifty-two week low of $10.22 and a fifty-two week high of $19.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.26 and a current ratio of 10.26.

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.