Protalix BioTherapeutics (NYSE:PLX) Shares Down 0.7% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price objective on shares of Protalix BioTherapeutics from $15.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Protalix BioTherapeutics currently has a consensus rating of “Buy” and a consensus target price of $12.00.

Protalix BioTherapeutics Trading Down 0.7%

The business has a 50-day moving average of $2.31 and a 200 day moving average of $2.07. The firm has a market capitalization of $242.07 million, a PE ratio of -23.15 and a beta of -0.21.

Insider Buying and Selling at Protalix BioTherapeutics

In other news, CEO Dror Bashan purchased 56,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were bought at an average cost of $1.81 per share, with a total value of $101,360.00. Following the completion of the transaction, the chief executive officer directly owned 188,516 shares of the company’s stock, valued at approximately $341,213.96. This trade represents a 42.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Protalix BioTherapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Protalix BioTherapeutics in the 4th quarter worth approximately $26,000. NewEdge Advisors LLC bought a new stake in Protalix BioTherapeutics during the first quarter worth $39,000. BNP Paribas Financial Markets lifted its holdings in Protalix BioTherapeutics by 126.5% during the third quarter. BNP Paribas Financial Markets now owns 15,215 shares of the company’s stock worth $34,000 after acquiring an additional 8,498 shares during the period. Virtu Financial LLC purchased a new position in Protalix BioTherapeutics in the third quarter worth $37,000. Finally, Cascade Financial Partners LLC bought a new position in Protalix BioTherapeutics in the 2nd quarter valued at $25,000. Hedge funds and other institutional investors own 16.53% of the company’s stock.

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.