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

Protalix BioTherapeutics, Inc. (NYSE:PLX)’s share price fell 2.2% during trading on Monday . The stock traded as low as $2.25 and last traded at $2.27. 512,986 shares changed hands 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 reaffirmed a “buy” rating and issued a $12.00 price target on shares of Protalix BioTherapeutics in a report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.00.

Protalix BioTherapeutics Trading Down 0.9%

The stock has a fifty day moving average price of $2.55 and a 200-day moving average price of $2.25. The firm has a market capitalization of $177.26 million, a price-to-earnings ratio of -16.92 and a beta of -0.09.

Hedge Funds Weigh In On Protalix BioTherapeutics

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of Protalix BioTherapeutics by 12.4% in the 4th quarter. Invesco Ltd. now owns 50,563 shares of the company’s stock worth $91,000 after buying an additional 5,560 shares in the last quarter. Main Street Financial Solutions LLC grew its position in Protalix BioTherapeutics by 65.8% during the 4th quarter. Main Street Financial Solutions LLC now owns 214,100 shares of the company’s stock worth $385,000 after acquiring an additional 85,000 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Protalix BioTherapeutics during the 4th quarter worth approximately $129,000. Barclays PLC grew its position in Protalix BioTherapeutics by 10.9% during the 4th quarter. Barclays PLC now owns 112,849 shares of the company’s stock worth $203,000 after acquiring an additional 11,051 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Protalix BioTherapeutics during the 4th quarter worth approximately $34,000. 16.53% of the stock is owned by institutional investors and hedge funds.

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.