Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Protalix BioTherapeutics, Inc. $PLX

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Protalix BioTherapeutics by purchasing 482,875 shares valued at approximately $1,236,000 during the first quarter.
• Insider transactions revealed that Director Aharon Schwartz bought 129,000 shares, increasing his holdings by 74.14%, totaling a stake valued at around $484,800.
• The stock was recently downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, which could indicate a shift in investor sentiment regarding Protalix BioTherapeutics.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Protalix BioTherapeutics, Inc. (NYSE:PLX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 482,875 shares of the company's stock, valued at approximately $1,236,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.61% of Protalix BioTherapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC grew its stake in Protalix BioTherapeutics by 24.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 29,307 shares of the company's stock valued at $55,000 after buying an additional 5,686 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Protalix BioTherapeutics during the 1st quarter worth approximately $107,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Protalix BioTherapeutics by 13.7% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 53,507 shares of the company's stock worth $101,000 after purchasing an additional 6,434 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Protalix BioTherapeutics by 33.4% during the 4th quarter. Squarepoint Ops LLC now owns 73,940 shares of the company's stock worth $139,000 after purchasing an additional 18,522 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Protalix BioTherapeutics in the fourth quarter valued at approximately $192,000. Institutional investors and hedge funds own 16.53% of the company's stock.

Protalix BioTherapeutics Stock Performance

Shares of Protalix BioTherapeutics stock traded up $0.01 on Thursday, reaching $1.58. 268,796 shares of the stock were exchanged, compared to its average volume of 836,453. The firm's 50 day moving average is $1.49 and its 200-day moving average is $2.02. Protalix BioTherapeutics, Inc. has a one year low of $0.89 and a one year high of $3.10. The firm has a market cap of $125.98 million, a PE ratio of -12.15 and a beta of -0.21.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Protalix BioTherapeutics from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Protalix BioTherapeutics currently has a consensus rating of "Buy" and an average price target of $15.00.

Insiders Place Their Bets

In other Protalix BioTherapeutics news, Director Aharon Schwartz bought 129,000 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was purchased at an average cost of $1.60 per share, for a total transaction of $206,400.00. Following the completion of the purchase, the director directly owned 303,000 shares of the company's stock, valued at approximately $484,800. This trade represents a 74.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 6.50% of the stock is owned by insiders.

Protalix BioTherapeutics Profile

Protalix BioTherapeutics, Inc, a biopharmaceutical company, engages in the development, production, and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx plant cell-based protein expression system in the United States, Australia, Canada, Israel, Brazil, Russia, Turkey, and internationally.