PROTALIX BIOTHERAPEUTICS, INC. (PLX)

[midastouch017]

Protalix BioTherapeutics, Inc. (NYSE:PLX)

https://finance.yahoo.com/news/10-penny-stocks-buy-april-140550834.html

Number of Hedge Fund Holders: 2

Share Price as of April 6: $1.3886

Protalix BioTherapeutics, Inc. (NYSE:PLX) is a New Jersey-based biopharmaceutical company that specializes in the development and commercialization of therapeutic proteins in the United States, Australia, Canada, Israel, Brazil, Russia, Turkey, and other international markets. Protalix BioTherapeutics, Inc. (NYSE:PLX) shares have gained approximately 32% over the last five days. Priced at $1.38, Protalix BioTherapeutics, Inc. (NYSE:PLX) is a notable penny stock to purchase in April.

Protalix BioTherapeutics, Inc. (NYSE:PLX) soared significantly on April 4 when the company announced the results of its late stage study which showed that PRX–102, an enzyme replacement therapy, was equally effective as Sanofi (NASDAQ:SNY)’s Fabrazyme for the treatment of Fabry disease. The company plans to submit a biologics license application to the FDA for PRX–102 in the second half of 2022. This study was conducted in collaboration with Chiesi Global Rare Diseases, a business unit of Chiesi Farmaceutici. The FDA approval will act as a potential growth catalyst for the company.

According to the fourth quarter database of Insider Monkey, 2 hedge funds were bullish on Protalix BioTherapeutics, Inc. (NYSE:PLX), with combined stakes of $107,000, compared to the same number of funds in the prior quarter, holding stakes in Protalix BioTherapeutics, Inc. (NYSE:PLX) worth $53,000. John Overdeck and David Siegel’s Two Sigma Advisors raised its position in the company by 604% in Q4 2021, holding 99,900 shares valued at $83,000.