SCHEDULE 13G/A: Redmile Group Reduces Stake in Pliant Therapeutics Below 5%
Beneficial Ownership Report (Amendment)
Redmile Group, LLC and its principal Jeremy C. Green have filed an amended Schedule 13G, disclosing a reduced beneficial ownership of 4.8% in Pliant Therapeutics, Inc. as of December 31, 2024.
Summary
- Redmile Group, LLC and its principal, Jeremy C. Green, have filed an Amendment No. 1 to their Schedule 13G for Pliant Therapeutics, Inc.
- As of December 31, 2024, the reporting persons beneficially own an aggregate of 2,895,478 shares of Pliant Therapeutics, Inc. Common Stock.
- This represents 4.8% of the Issuer's Common Stock outstanding.
- The percentage is based on 60,853,623 shares of Common Stock outstanding as of November 1, 2024, as reported by Pliant Therapeutics in its Form 10-Q.
- Redmile Group, LLC, as investment manager, and Jeremy C. Green, as principal, share both voting and dispositive power over all 2,895,478 shares.
- The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 4
Explanation: The sentiment is slightly negative due to the implied reduction in a significant institutional investor's stake below the 5% threshold, which can be interpreted as a loss of confidence or strategic divestment.
Negatives
- The reduction of Redmile Group, LLC's beneficial ownership below the 5% threshold, as indicated by this amended Schedule 13G, could be interpreted as a decrease in conviction or a strategic divestment by a significant institutional investor.
Future Outlook
NA
Industry Context
This filing reflects a change in the investment position of a significant institutional investor within the biotechnology sector. While not directly indicative of broader industry trends, changes in major institutional holdings can sometimes signal shifts in investor sentiment towards specific companies or sub-sectors.
Stakeholder Impact
- Shareholders: The reduction in a significant institutional investor's stake could lead to negative market sentiment and potentially impact the share price.
Key Dates
| Date | Description |
|---|---|
| 2024-11-01 | Date as of which Pliant Therapeutics, Inc. reported 60,853,623 shares of Common Stock outstanding in its Form 10-Q. |
| 2024-11-07 | Date Pliant Therapeutics, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2024, with the SEC. |
| 2024-12-31 | Date of event which required the filing of this Schedule 13G amendment, reflecting the change in beneficial ownership. |
| 2025-02-14 | Date the Schedule 13G Amendment No. 1 was signed and filed by Redmile Group, LLC and Jeremy C. Green. |
Keywords
Pliant Therapeutics, Redmile Group, Jeremy C. Green, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Biotechnology, Pharmaceuticals
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