SCHEDULE: Deep Track Capital's 6.43% Stake in Pliant Therapeutics
Beneficial Ownership Report
Deep Track Capital and its affiliates have disclosed a 6.43% beneficial ownership stake in Pliant Therapeutics, Inc., holding 3,947,807 shares of common stock.
Summary
- Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin collectively reported beneficial ownership of 3,947,807 shares of Pliant Therapeutics, Inc. common stock.
- This ownership represents 6.43% of Pliant Therapeutics' outstanding common stock.
- The calculation of the percentage is based on 61,386,278 common shares outstanding as of May 1, 2025, as reported in Pliant Therapeutics' Form 10-Q filed on May 8, 2025.
- The reporting persons share both voting and dispositive power over all 3,947,807 shares.
- This filing is an Amendment No. 2 to a previous Schedule 13G, indicating an update to their ownership position.
Sentiment
Score: 7
Explanation: The disclosure of a significant beneficial ownership stake by a specialized investment fund is generally viewed positively, indicating investor confidence in the company, although the filing itself does not provide operational or financial performance details.
Positives
- A significant beneficial ownership stake by a specialized investment firm like Deep Track Capital and its biotechnology fund may signal confidence in Pliant Therapeutics' long-term prospects.
- The investment is held by a group including an investment adviser (Deep Track Capital, LP) and a dedicated biotechnology master fund, suggesting a strategic interest in the sector.
Risks
- While the reporting persons certify that the securities were not acquired for the purpose of changing or influencing control, a large ownership stake could still be perceived as a potential for future influence on company decisions.
Future Outlook
NA
Industry Context
This filing indicates continued or updated interest from a specialized biotechnology investment fund in Pliant Therapeutics, a company operating within the biotechnology sector. Such investments are common as funds seek to gain exposure to specific therapeutic areas or innovative drug development pipelines.
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional investor's stake can influence market perception and potentially share price, signaling confidence or a potential for future engagement.
Key Dates
| Date | Description |
|---|---|
| 2025-05-01 | Date as of which Pliant Therapeutics' common stock outstanding (61,386,278 shares) was reported in their Form 10-Q. |
| 2025-05-08 | Date Pliant Therapeutics filed its Form 10-Q with the SEC, reporting common stock outstanding. |
| 2025-06-30 | Date of event which required the filing of this Schedule 13G Amendment No. 2. |
| 2025-08-14 | Date the Schedule 13G was signed and certified by David Kroin on behalf of all reporting persons. |
Keywords
Pliant Therapeutics, Deep Track Capital, Beneficial Ownership, Schedule 13G, Biotechnology Investment, Institutional Investor, Common Stock, Equity Stake
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