Insider Buying: Protalix BioTherapeutics (NYSE:PLX) CEO Acquires $101,360.00 in Stock

Protalix BioTherapeutics, Inc. (NYSE:PLX) CEO Dror Bashan acquired 56,000 shares of the stock in a transaction on Friday, December 19th. The stock was bought at an average price of $1.81 per share, with a total value of $101,360.00. Following the transaction, the chief executive officer directly owned 188,516 shares of the company’s stock, valued at approximately $341,213.96. The trade was a 42.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Protalix BioTherapeutics Stock Performance

Shares of Protalix BioTherapeutics stock opened at $1.76 on Friday. Protalix BioTherapeutics, Inc. has a 52-week low of $1.32 and a 52-week high of $3.10. The company’s 50 day moving average price is $1.96 and its 200-day moving average price is $1.79. The stock has a market capitalization of $141.54 million, a price-to-earnings ratio of -13.54 and a beta of -0.25.

Institutional Investors Weigh In On Protalix BioTherapeutics

Several institutional investors and hedge funds have recently modified their holdings of PLX. BNP Paribas Financial Markets increased its position in shares of Protalix BioTherapeutics by 126.5% during the third quarter. BNP Paribas Financial Markets now owns 15,215 shares of the company’s stock valued at $34,000 after buying an additional 8,498 shares during the period. Orin Green Financial LLC lifted its holdings in Protalix BioTherapeutics by 22.4% in the second quarter. Orin Green Financial LLC now owns 61,200 shares of the company’s stock worth $91,000 after buying an additional 11,200 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Protalix BioTherapeutics by 2.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,216 shares of the company’s stock valued at $734,000 after acquiring an additional 13,341 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Protalix BioTherapeutics during the 1st quarter worth approximately $39,000. Finally, Virtu Financial LLC bought a new position in shares of Protalix BioTherapeutics in the 3rd quarter worth approximately $37,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright dropped their target price 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, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.00.

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.