Protalix BioTherapeutics (NYSE:PLX) Trading 5.1% Higher - Should You Buy?

Key Points

• Protalix BioTherapeutics shares increased by 5.1%, reaching a trading price of $2.49, although the trading volume declined slightly compared to average levels.
• The company has a market capitalization of $198.53 million and a negative PE ratio of -19.15, indicating ongoing operational challenges.
• Institutional investors and hedge funds hold 16.53% of the stock, with notable purchases made in the second quarter by firms like Bank of America Corp and Cascade Financial Partners LLC.

Protalix BioTherapeutics, Inc. (NYSE:PLX - )'s share price was up 5.1% during trading on Wednesday . The stock traded as high as $2.49 and last traded at $2.49. Approximately 825,681 shares traded hands during trading, a decline of 1% from the average daily volume of 832,164 shares. The stock had previously closed at $2.37.

Protalix BioTherapeutics Trading Up 5.1%

The firm's fifty day moving average price is $1.88 and its two-hundred day moving average price is $1.89. The stock has a market capitalization of $198.53 million, a PE ratio of -19.15 and a beta of -0.13.

Hedge Funds Weigh In On Protalix BioTherapeutics

Large investors have recently added to or reduced their stakes in the stock. Cascade Financial Partners LLC purchased a new stake in shares of Protalix BioTherapeutics during the second quarter worth about $25,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Protalix BioTherapeutics in the 2nd quarter valued at $27,000. Bank of America Corp DE boosted its stake in Protalix BioTherapeutics by 364,766.7% during the 2nd quarter. Bank of America Corp DE now owns 21,892 shares of the company's stock worth $32,000 after purchasing an additional 21,886 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Protalix BioTherapeutics in the first quarter valued at about $39,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Protalix BioTherapeutics during the second quarter worth about $40,000. 16.53% of the stock is currently owned by institutional investors and hedge funds.

Protalix BioTherapeutics Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.