Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Pliant Therapeutics Inc. shares valued at $281,851 were sold by Coulie Bernard on Sep 12. At $22.54 per share, Coulie Bernard sold 12,502 shares. The insider’s holdings dropped to 59,273 shares worth approximately $1.22 million following the completion of this transaction.
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Also, Coulie Bernard sold 12,498 shares, netting a total of over 281,205 in proceeds. Following the sale of shares at $22.50 each, the insider now holds 59,273 shares.
Before that, Lefebvre Eric had sold 3,000 shares from its account. In a trade valued at $60,000, the Chief Medical Officer traded Pliant Therapeutics Inc. shares for $20.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $2.85 million.
As published in their initiating research note from Citigroup on September 01, 2022, Pliant Therapeutics Inc. [PLRX] has been a Buy and the price target has been revised to $36. This represents a 42.72% premium over Wednesday’s closing price. Analysts at SVB Leerink started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid July. As of May 25, 2022, Cantor Fitzgerald has initiated its “an Overweight” rating for PLRX. Earlier on December 10, 2021, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for PLRX stock.
Analyzing PLRX’s Price Performance
On Wednesday, Pliant Therapeutics Inc. [NASDAQ: PLRX] plunged -8.80% to $20.62. The stock’s lowest price that day was $19.4501, but it reached a high of $22.48 in the same session. During the last five days, there has been a drop of approximately -14.90%. Over the course of the year, Pliant Therapeutics Inc. shares have jumped approximately 52.74%. Shares of the company reached a 52-week high of $24.81 on 09/14/22 and a 52-week low of $3.96 on 05/11/22. A 50-day SMA is recorded $19.93, while a 200-day SMA reached $11.94. Nevertheless, trading volume fell to 1.16 million shares from 0.35 million shares the previous day.
Support And Resistance Levels for Pliant Therapeutics Inc. (PLRX)
According to the 24-hour chart, there is a support level at 19.22, which, if violated, would cause prices to drop to 17.82. In the upper region, resistance lies at 22.25. The next price resistance is at 23.88. RSI (Relative Strength Index) is 48.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.17, which suggests the price will decrease in the coming days. Percent R is at 71.02%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Pliant Therapeutics Inc. subject to short interest?
Stocks of Pliant Therapeutics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.49 million shares to 2.57 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.08 million shares. A jump of 19.07% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.5 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.5.
Which companies own the most shares of Pliant Therapeutics Inc. (PLRX)?
According to Fidelity Management & Research Co filings, the company currently owns 3,206,671 shares, which is about 6.59% of the total PLRX shares outstanding. The investor’s shares have plunged by -1,759,490 from its previous 13-F filing of 4966161.0 shares. With the completion of the buy transaction, CHI Advisors LLC’s stake is now worth $59,899,239. Redmile Group LLC reduced a -0.38% interest valued at $59.17 million while Citadel Advisors LLC purchased a 5,819 stake. A total of -138,274 shares of Pliant Therapeutics Inc. were bought by The Vanguard Group, Inc. during the quarter, and 358,042 were bought by First Light Asset Management LLC. In its current portfolio, BlackRock Fund Advisors holds 645,254 shares valued at $12.44 million.
In spite of this, 10 analysts ranked Pliant Therapeutics Inc. stock as a Buy at the end of 2022. On November 24, 2021, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and initiated coverage with a $38.