As of Wednesday, Pliant Therapeutics Inc.’s (NASDAQ:PLRX) stock closed at $21.60, up from $21.45 the previous day. While Pliant Therapeutics Inc. has overperformed by 0.70%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PLRX rose by 338.13%, with highs and lows ranging from $36.64 to $4.74, whereas the simple moving average fell by -9.95% in the last 200 days.
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Analysis of Pliant Therapeutics Inc. (PLRX)
Further, the quarter-over-quarter increase in sales is 8.30%, showing a positive trend in the upcoming months.
One of the most important indicators of Pliant Therapeutics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -39.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 25.40, 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 also provide valuable insight into volatility, and PLRX is recording 718.67K average volume. On a monthly basis, the volatility of the stock is set at 6.48%, whereas on a weekly basis, it is put at 6.41%, with a gain of 0.33% over the past seven days. Furthermore, long-term investors anticipate a median target price of $46.85, showing growth from the present price of $21.60, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of 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 0.90%. 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 94.20% 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 increased by 5.68% in the first quarter. The company now owns 4,500,888 shares of the stock, with a value of $127.15 million, following the purchase of 241,983 additional shares during the last quarter. Deep Track Capital LP made another increased to its shares in PLRX during the first quarter, upping its stake by 97.47%. During the last quarter, the company dropped down 1,689,111 additional shares for a total stake of worth $96.67 million, bringing number of shares owned by the company to 3,422,057.
During the first quarter, CHI Advisors LLC subtracted a -168,057 position in PLRX. Redmile Group LLC sold an additional -0.95 million shares in the last quarter, decreasing its holdings by -24.57%, now holding 2.93 million shares worth $82.65 million. At the end of the first quarter, Avidity Partners Management LP increased its PLRX holdings by 18.95% and now holds 2.67 million PLRX shares valued at $75.29 million with the added 0.42 million shares during the period. PLRX shares are owned by institutional investors to the tune of 94.20% at present.
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