Pliant Therapeutics CMO sells shares worth over $142,000 By Investing.com

In a recent transaction, Eric Lefebvre, the Chief Medical Officer of Pliant Therapeutics, Inc. (NASDAQ:PLRX), sold 12,319 shares of company stock, culminating in a total value of over $142,000. The sale occurred on July 10, 2024, with shares priced at an average of $11.56 each. This transaction was part of a nondiscretionary sale under a plan that meets the requirements of Rule 10b5-1.

The shares sold by Lefebvre were part of a group sale conducted by a broker to satisfy withholding tax liabilities associated with the vesting of performance-vested stock units. This group included other Pliant Therapeutics employees, and the sale prices ranged from $10.785 to $12.58 per share. Following this transaction, Lefebvre’s remaining direct ownership in the company stands at 213,052 shares.

Investors often monitor insider sales as they may provide insights into an executive’s perspective on the company’s current valuation and future prospects. However, it is important to note that sales like this one can be motivated by a variety of personal financial considerations and do not necessarily reflect a negative outlook on the company’s future performance.

Pliant Therapeutics, based in South San Francisco, California, specializes in pharmaceutical preparations and is known for its innovative approaches in the field of life sciences. The company’s business address and mailing address are both located at 331 Oyster Point Boulevard, South San Francisco, CA 94080.

The specifics of this transaction were detailed in a Form 4 filing with the Securities and Exchange Commission, which was signed by attorney-in-fact Mike Ouimette on behalf of Eric Lefebvre on July 12, 2024. Lefebvre has committed to providing further details regarding the sale upon request, including the number of shares sold at each price within the specified range.

In other recent news, Pliant Therapeutics has been making significant strides in its research and development efforts. The biotechnology company recently revealed positive topline data from a 12-week trial of its investigational drug, bexotegrast, for treating idiopathic pulmonary fibrosis (IPF). The study demonstrated a reduction in total lung collagen in patients, suggesting a potential reversal of lung fibrosis.

Analysts have noted these developments, with Piper Sandler, Oppenheimer, RBC Capital, and Stifel all maintaining positive ratings on Pliant Therapeutics. Piper Sandler confirmed its Overweight rating and $40.00 target, while Oppenheimer reiterated an Outperform rating and a price target of $48.00. RBC Capital also maintained its Outperform rating with a steady price target of $45.00, and Stifel reaffirmed its Buy rating.

These ratings reflect confidence in Pliant Therapeutics’ direction and the future prospects of bexotegrast. The company’s strong participation at the American Thoracic Society conference and the consistent performance of bexotegrast were also highlighted. Other anticipated developments include the release of the 24-week Phase 2a INTEGRIS-PSC data and a meeting with the FDA, both expected around mid-2024. The completion of enrollment for the Phase 2b/3 BEACON-IPF study is guided for the first quarter of 2025. These are recent developments that are expected to further influence the company’s trajectory.

InvestingPro Insights

In light of the recent insider sale by Pliant Therapeutics, Inc.’s (NASDAQ:PLRX) Chief Medical Officer, Eric Lefebvre, investors may seek additional context regarding the company’s financial health and market performance. Here are some insights based on data and tips from InvestingPro:

InvestingPro Data shows that Pliant Therapeutics holds a market capitalization of $769.15 million, with a notably high negative price-to-earnings (P/E) ratio of -4.44. This indicates that investors are valuing the company despite its lack of profitability in the last twelve months, as of Q1 2024. Additionally, the company’s significant return over the last week stands at 21.2%, reflecting a recent uptick in investor confidence.

An InvestingPro Tip highlights that Pliant Therapeutics holds more cash than debt on its balance sheet, which is a positive sign of financial stability. However, another tip indicates that analysts have revised their earnings downwards for the upcoming period, suggesting potential challenges ahead. Moreover, the company is not expected to be profitable this year, and it does not pay a dividend to shareholders, which could influence investment decisions.

For those interested in a deeper analysis, there are additional InvestingPro Tips available for Pliant Therapeutics at https://www.investing.com/pro/PLRX. Using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing access to a wealth of investment insights. There are currently 8 more InvestingPro Tips listed, which could further inform investment strategies.

Understanding these financial metrics and insights can offer a broader perspective on the implications of insider transactions and the overall direction of Pliant Therapeutics.

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