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

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

Analyst Upgrades and Downgrades

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

Protalix BioTherapeutics Stock Performance

The stock has a market capitalization of $242.07 million, a P/E ratio of -23.15 and a beta of -0.21. The business has a fifty day simple moving average of $2.31 and a 200-day simple moving average of $2.07.

Insider Activity

In related news, CEO Dror Bashan acquired 56,000 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were 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 $341,213.96. This trade represents a 42.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cascade Financial Partners LLC acquired a new stake in Protalix BioTherapeutics in the second quarter valued at approximately $25,000. R Squared Ltd acquired a new position in shares of Protalix BioTherapeutics during the fourth quarter worth approximately $26,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Protalix BioTherapeutics in the 2nd quarter worth $27,000. SG Americas Securities LLC acquired a new stake in Protalix BioTherapeutics in the 4th quarter valued at $31,000. Finally, Bank of America Corp DE grew its position in Protalix BioTherapeutics by 364,766.7% in the 2nd quarter. Bank of America Corp DE now owns 21,892 shares of the company’s stock valued at $32,000 after purchasing an additional 21,886 shares during the period. 16.53% of the stock is owned by institutional investors and hedge funds.

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.