Eric Lefebvre, the Chief Medical (TASE:PMCN) Officer of Pliant Therapeutics, Inc. (NASDAQ:PLRX), recently sold a substantial portion of his holdings in the company. According to the SEC filing, Lefebvre sold 18,478 shares of common stock, generating a total of $206,973. The shares were sold at an average price of $11.2011, with individual sale prices ranging from $11.03 to $11.695. The transaction comes as the stock trades near its 52-week low of $10.22, having declined about 13.5% in the past week. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 10.26.
This transaction was executed as a nondiscretionary sale under a Rule 10b5-1 plan, intended to cover withholding tax liabilities associated with the vesting of previously granted restricted stock units. InvestingPro analysis reveals 11 additional key insights about Pliant Therapeutics, including important metrics about its cash position and financial health. Following the sale, Lefebvre retains ownership of 194,574 shares of Pliant Therapeutics, representing a stake in the $664 million market cap company.
In other recent news, Pliant Therapeutics has been making significant strides in its clinical trials. The biotech firm's Phase 2/3 BEACON-IPF trial for Bexotegrast, a treatment for idiopathic pulmonary fibrosis (IPF), is progressing positively. Analyst firms H.C. Wainwright, Stifel, and Piper Sandler have maintained their Buy, Buy, and Overweight ratings respectively, reflecting their confidence in Pliant's ongoing trials.
The company has also reported improvements in disease markers and symptoms for primary sclerosing cholangitis (PSC) in its INTEGRIS-PSC trial. Furthermore, Pliant Therapeutics recently appointed Dr. Delphine Imbert as its new Chief Technical Officer and Dr. Gary Palmer as the new Senior Vice President of Medical Affairs.
These recent developments are part of Pliant Therapeutics' ongoing efforts in the biopharmaceutical sector. The firm continues to prepare for commercialization, with analysts revising their earnings expectations upward and price targets ranging from $32 to $47.
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