Protalix BioTherapeutics Inc. (AMEX: PLX) stock fell -17.37% on Monday to $1.38 against a previous-day closing price of $1.67. With 3.29 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.39 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.6000 whereas the lowest price it dropped to was $1.3150. The 52-week range on PLX shows that it touched its highest point at $2.00 and its lowest point at $0.70 during that stretch.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PLX was down-trending over the past week, with a drop of -14.81%, but this was up by 6.15% over a month. Three-month performance surged to 34.06% while six-month performance rose 30.19%. The stock gained 65.61% in the past year, while it has gained 0.73% so far this year.
Float and Shares Shorts:
At present, 50.67 million PLX shares are outstanding with a float of 41.64 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.54 million, which was 3.10% higher than short shares on Sep 14, 2022. In addition to Mr. Dror Bashan as the firm’s Pres, CEO & Director, Mr. Eyal Rubin M.B.A. serves as its Sr. VP, CFO, Treasurer & Corp. Sec.
Through their ownership of 5.27% of PLX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.96% of PLX, in contrast to 3.98% held by mutual funds. Shares owned by individuals account for 11.03%. As the largest shareholder in PLX with 4.76% of the stake, Highbridge Capital Management LLC holds 2,413,487 shares worth 2,413,487. A second-largest stockholder of PLX, Medical Strategy GmbH, holds 1,135,407 shares, controlling over 2.24% of the firm’s shares. Meitav Mutual Funds Ltd. is the third largest shareholder in PLX, holding 244,332 shares or 0.48% stake. With a 1.92% stake in PLX, the FCP Medical – BioHealth is the largest stakeholder. A total of 974,747 shares are owned by the mutual fund manager. The APO Medical Opportunities, which owns about 0.42% of PLX stock, is the second-largest Mutual Fund holder. It holds 211,650 shares valued at 0.29 million. RIM Global – Bioscience holds 0.32% of the stake in PLX, owning 160,660 shares worth 0.22 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PLX since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PLX analysts setting a high price target of $11.00 and a low target of $11.00, the average target price over the next 12 months is $11.00. Based on these targets, PLX could surge 697.1% to reach the target high and rise by 697.1% to reach the target low. Reaching the average price target will result in a growth of 697.1% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PLX will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.39 being high and -$0.39 being low. For PLX, this leads to a yearly average estimate of -$0.39. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Protalix BioTherapeutics Inc. surprised analysts by $0.08 when it reported -$0.07 EPS against a consensus estimate of -$0.15. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.15 and the low estimate is -$0.15. The average estimate for the next quarter is thus -$0.15.
Summary of Insider Activity:
Insiders traded PLX stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 110,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 937,482 while 0 shares were sold.