Protalix BioTherapeutics (NYSE:PLX) Stock Price Down 2.6% – Time to Sell?

Protalix BioTherapeutics, Inc. (NYSE:PLX) shares dropped 2.6% during trading on Wednesday . The company traded as low as $2.25 and last traded at $2.27. 577,962 shares were traded during trading, a decline of 39% from the average session volume of 950,544 shares. The stock had previously closed at $2.33.

Protalix BioTherapeutics Stock Performance

The firm’s 50-day simple moving average is $2.21 and its 200 day simple moving average is $2.33. The company has a market cap of $190.96 million and a P/E ratio of -18.23.

Hedge Funds Weigh In On Protalix BioTherapeutics

Several institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Protalix BioTherapeutics in the 4th quarter valued at approximately $26,000. SG Americas Securities LLC bought a new stake in Protalix BioTherapeutics in the fourth quarter valued at approximately $31,000. Bank of America Corp DE increased its stake in Protalix BioTherapeutics by 364,766.7% in the second 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 in the last quarter. Marshall Wace LLP bought a new position in shares of Protalix BioTherapeutics during the fourth quarter worth $34,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Protalix BioTherapeutics by 126.5% in the 3rd 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. 16.53% of the stock is currently 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.