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

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC raised its position in shares of Protalix BioTherapeutics by 17.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,118,000 shares of the company's stock worth $2,102,000 after acquiring an additional 162,100 shares in the last quarter. Northern Trust Corp raised its position in shares of Protalix BioTherapeutics by 1,299.4% in the 4th quarter. Northern Trust Corp now owns 731,742 shares of the company's stock worth $1,376,000 after acquiring an additional 679,451 shares in the last quarter. Millennium Management LLC raised its position in shares of Protalix BioTherapeutics by 3.8% in the 4th quarter. Millennium Management LLC now owns 387,921 shares of the company's stock worth $729,000 after acquiring an additional 14,164 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Protalix BioTherapeutics by 28.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 346,400 shares of the company's stock worth $887,000 after acquiring an additional 76,400 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Protalix BioTherapeutics by 147.2% in the 4th quarter. Jane Street Group LLC now owns 113,616 shares of the company's stock worth $214,000 after acquiring an additional 67,664 shares in the last quarter. 16.53% of the stock is owned by institutional investors.

Insider Transactions at Protalix BioTherapeutics

In other Protalix BioTherapeutics news, Director Aharon Schwartz bought 129,000 shares of Protalix BioTherapeutics stock in a transaction that occurred on Tuesday, June 10th. The shares were bought at an average cost of $1.60 per share, with a total value of $206,400.00. Following the transaction, the director directly owned 303,000 shares of the company's stock, valued at approximately $484,800. This represents a 74.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Protalix BioTherapeutics Stock Performance

NYSE:PLX traded down $0.0050 during mid-day trading on Thursday, hitting $1.5650. 29,353 shares of the company's stock traded hands, compared to its average volume of 834,875. The company has a fifty day moving average of $1.49 and a 200 day moving average of $2.02. Protalix BioTherapeutics, Inc. has a twelve month low of $0.89 and a twelve month high of $3.10. The company has a market capitalization of $124.78 million, a P/E ratio of -12.04 and a beta of -0.21.

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.