Protalix BioTherapeutics (NYSEMKT: PLX)
Protalix BioTherapeutics is having a pretty strong day in the market today. When the opening bell rang, the stock was trading slightly in the red. However, it didn’t take long to make it to the green. From there, we’ve seen a continuation of gains. Below, we’ll talk about what we’re seeing from PLX, why, and what we’ll be watching for ahead.
What We’re Seeing From PLX
As mentioned above, Protalix BioTherapeutics is having a strong day in the market today. At the open of the trading session, the stock was slightly in the red, but that didn’t last long. Throughout the day, we’ve seen upward movement, driving the stock further and further into the green. At the moment (11:41), PLX is trading at $0.68 per share after a gain of $0.04 per share (5.95%) thus far today.
Why The Stock Is Gaining
As is usually the case, our friends at Trade Ideas were the first to inform us of the gains on PLX. When we got the alert, we dug in to see exactly what was going on. In this case, the gains seem to be the result of an investment in the company made by Abir Therapeutics. According to Fintel, Abir Therapeutics has purchased 6,200,000 shares of Protalix BioTherapeutics. Of course, any time large share purchases are made, investors get excited. So, what we’re seeing in the market today is a reaction to this news.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PLX. In particular, we’re watching for continued investments made in the company by other therapeutics companies. Don’t forget, Knight Therapeutics purchased a large amount of shares just about a week ago, sending the stock higher as well. We’ll be keeping a close eye on the news and bringing it to you as it breaks!
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