Protalix BioTherapeutics (NYSE:PLX) Shares Down 0.7% – Here’s What Happened

Protalix BioTherapeutics, Inc. (NYSE:PLX) shares fell 0.7% during trading on Thursday . The stock traded as low as $2.94 and last traded at $3.01. 917,725 shares were traded during mid-day trading, a decline of 35% from the average session volume of 1,406,469 shares. The stock had previously closed at $3.03.

Analyst Ratings Changes

Separately, HC Wainwright lowered their price objective on Protalix BioTherapeutics from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 21st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $12.00.

Protalix BioTherapeutics Trading Down 4.3%

The company has a market capitalization of $231.61 million, a PE ratio of -22.15 and a beta of -0.21. The stock’s 50-day moving average is $2.34 and its two-hundred day moving average is $2.08.

Insider Transactions at Protalix BioTherapeutics

In other Protalix BioTherapeutics news, CEO Dror Bashan acquired 56,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was bought at an average price of $1.81 per share, for a total transaction of $101,360.00. Following the acquisition, the chief executive officer directly owned 188,516 shares in the company, valued at $341,213.96. The trade was a 42.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Protalix BioTherapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in Protalix BioTherapeutics in the 2nd quarter worth about $40,000. Round Rock Advisors LLC purchased a new stake in shares of Protalix BioTherapeutics in the fourth quarter valued at approximately $279,000. State of Alaska Department of Revenue purchased a new stake in shares of Protalix BioTherapeutics in the fourth quarter valued at approximately $39,000. SG Americas Securities LLC bought a new position in Protalix BioTherapeutics in the fourth quarter worth approximately $31,000. Finally, BNP Paribas Financial Markets grew its stake in Protalix BioTherapeutics by 126.5% in the third quarter. BNP Paribas Financial Markets now owns 15,215 shares of the company’s stock worth $34,000 after purchasing an additional 8,498 shares in the last quarter. 16.53% of the stock is currently owned by institutional investors.

Protalix BioTherapeutics Company Profile

Protalix BioTherapeutics (NYSE:PLX) is a clinical‐stage biopharmaceutical company focused on the development and manufacturing of recombinant therapeutic proteins through its proprietary ProCellEx® plant cell–based expression system. Headquartered in Carmiel, Israel, with operations in the United States, the company leverages its technology platform to produce complex biologics in a cost‐effective and scalable manner. Protalix’s core expertise lies in engineering plant cells to generate high‐quality therapeutic proteins for rare and specialty diseases.

The company’s first approved commercial product, ELELYSO® (taliglucerase alfa), received regulatory approval from the U.S.