Lily Cheung, the Chief Human Resource Officer at Pliant Therapeutics, Inc. (NASDAQ:PLRX), recently sold shares of the company's stock, according to a filing with the Securities and Exchange Commission. The transaction occurred on January 17, 2025, involving the sale of 3,740 shares at a weighted average price of $11.2011 per share, totaling $41,892. The sale comes as the stock trades near its 52-week low of $10.22, with InvestingPro data showing analyst price targets ranging from $32 to $47.
The sale was part of a nondiscretionary plan under Rule 10b5-1, designed to satisfy tax liabilities associated with the vesting of restricted stock units. Following this transaction, Cheung retains ownership of 24,550 shares of Pliant Therapeutics. The sale price ranged from $11.03 to $11.695 per share. InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 10.26, though the stock has declined 13.54% in the past week. Subscribers can access 11 additional ProTips and comprehensive financial metrics for deeper insights.
In other recent news, Pliant Therapeutics has made significant progress with its Phase 2/3 BEACON-IPF trial for Bexotegrast, a potential treatment for idiopathic pulmonary fibrosis (IPF). The company also reported encouraging findings from the INTEGRIS-PSC trial, indicating improvements in disease markers and symptoms for primary sclerosing cholangitis (PSC). Financial analysts, including H.C. Wainwright and Stifel, have maintained their Buy ratings on Pliant Therapeutics, reflecting their confidence in the ongoing trials.
The company has also appointed Delphine Imbert as its new Chief Technical Officer and Gary Palmer as the new Senior Vice President of Medical (TASE:PMCN) Affairs. These appointments come at a critical juncture as the company prepares for commercialization. Pliant Therapeutics has updated its corporate bylaws to align with recent changes in Delaware law, enhancing its corporate governance practices.
These are recent developments in Pliant Therapeutics' ongoing efforts in the biopharmaceutical sector. It's important to note that these developments are based on the company's press releases and the analysis of financial analysts from firms such as H.C. Wainwright, Stifel, Piper Sandler, and Leerink Partners.
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