A share of Pliant Therapeutics Inc. (NASDAQ:PLRX) closed at $20.62 per share on Wednesday, down from $22.61 day before. While Pliant Therapeutics Inc. has underperformed by -8.80%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PLRX rose by 15.97%, with highs and lows ranging from $24.81 to $3.96, whereas the simple moving average jumped by 73.25% in the last 200 days.
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On September 01, 2022, Citigroup started tracking Pliant Therapeutics Inc. (NASDAQ: PLRX) recommending Buy. A report published by SVB Leerink on July 20, 2022, Initiated its previous ‘Outperform’ rating for PLRX. Cantor Fitzgerald also rated PLRX shares as ‘Overweight’, setting a target price of $28 on the company’s shares in an initiating report dated May 25, 2022. Oppenheimer Initiated an Outperform rating on December 10, 2021, and assigned a price target of $40. RBC Capital Mkts initiated its ‘Outperform’ rating for PLRX, as published in its report on November 24, 2021. H.C. Wainwright’s report from November 03, 2021 suggests a price prediction of $45 for PLRX shares, giving the stock a ‘Buy’ rating. BTIG Research also rated the stock as ‘Buy’.
Analysis of Pliant Therapeutics Inc. (PLRX)
Further, the quarter-over-quarter increase in sales is 177.80%, showing a positive trend in the upcoming months.
Pliant Therapeutics Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -59.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 7.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and PLRX is registering an average volume of 2.05M. On a monthly basis, the volatility of the stock is set at 7.36%, whereas on a weekly basis, it is put at 8.11%, with a loss of -14.90% over the past seven days. Furthermore, long-term investors anticipate a median target price of $43.11, showing growth from the present price of $20.62, which can serve as yet another indication of whether PLRX is worth investing in or should be passed over.
How Do You Analyze Pliant Therapeutics Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 63.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PLRX shares?
The recent increase in stakes in PLRX appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in PLRX has decreased by -35.43% in the first quarter. The company now owns 3,206,671 shares of the stock, with a value of $61.82 million, following the sale of -1,759,490 additional shares during the last quarter. CHI Advisors LLC made another increased to its shares in PLRX during the first quarter, upping its stake by 16.91%. During the last quarter, the company dropped down 449,350 additional shares for a total stake of worth $59.9 million, bringing number of shares owned by the company to 3,106,807.
During the first quarter, Redmile Group LLC subtracted a -11,800 position in PLRX. Citadel Advisors LLC purchased an additional 5819.0 shares in the last quarter, increasing its holdings by 0.42%, now holding 1.38 million shares worth $26.67 million. At the end of the first quarter, The Vanguard Group, Inc. decreased its PLRX holdings by -11.68% and now holds 1.05 million PLRX shares valued at $20.15 million with the lessened -0.14 million shares during the period. PLRX shares are owned by institutional investors to the tune of 63.40% at present.