Protalix BioTherapeutics (NYSE:PLX) Stock Price Down 2.2% – Here’s Why

Protalix BioTherapeutics, Inc. (NYSE:PLX) shares fell 2.2% during mid-day trading on Monday . The stock traded as low as $2.25 and last traded at $2.27. 512,986 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,189,628 shares. The stock had previously closed at $2.32.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Protalix BioTherapeutics in a research report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $12.00.

Protalix BioTherapeutics Price Performance

The company’s fifty day simple moving average is $2.58 and its 200-day simple moving average is $2.25. The firm has a market capitalization of $182.90 million, a PE ratio of -17.46 and a beta of -0.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLX. Cubist Systematic Strategies LLC increased its position in Protalix BioTherapeutics by 82.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 53,380 shares of the company’s stock valued at $137,000 after buying an additional 24,073 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Protalix BioTherapeutics in the first quarter worth about $39,000. Goldman Sachs Group Inc. grew its stake in shares of Protalix BioTherapeutics by 482.3% during the first quarter. Goldman Sachs Group Inc. now owns 289,461 shares of the company’s stock worth $741,000 after acquiring an additional 239,751 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Protalix BioTherapeutics by 159.0% during the first quarter. Jane Street Group LLC now owns 294,318 shares of the company’s stock worth $753,000 after acquiring an additional 180,702 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in shares of Protalix BioTherapeutics during the second quarter valued at about $1,223,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

About Protalix BioTherapeutics

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.