Protalix BioTherapeutics (NYSE:PLX) CEO Dror Bashan Buys 56,000 Shares

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

Protalix BioTherapeutics Price Performance

Protalix BioTherapeutics stock opened at $1.75 on Wednesday. The stock has a market cap of $140.74 million, a PE ratio of -13.46 and a beta of -0.25. The stock’s fifty day moving average is $1.98 and its two-hundred day moving average is $1.79. Protalix BioTherapeutics, Inc. has a 1-year low of $1.32 and a 1-year high of $3.10.

Institutional Trading of Protalix BioTherapeutics

A number of large investors have recently made changes to their positions in the company. Cascade Financial Partners LLC acquired a new position in Protalix BioTherapeutics during the second quarter worth approximately $25,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Protalix BioTherapeutics in the second quarter valued at approximately $27,000. Bank of America Corp DE grew its position in shares of Protalix BioTherapeutics by 364,766.7% during the second quarter. Bank of America Corp DE now owns 21,892 shares of the company’s stock worth $32,000 after acquiring an additional 21,886 shares during the last quarter. BNP Paribas Financial Markets grew 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 worth $34,000 after acquiring an additional 8,498 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Protalix BioTherapeutics in the 3rd quarter valued at $37,000. 16.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.