CollPlant Biotechnologies (NASDAQ:CLGN) Stock Price Up 10.1% – Here’s Why

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) was up 10.1% during trading on Friday . The stock traded as high as $1.5399 and last traded at $1.52. Approximately 20,791 shares changed hands during trading, a decline of 22% from the average daily volume of 26,728 shares. The stock had previously closed at $1.38.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of CollPlant Biotechnologies in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CollPlant Biotechnologies in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CollPlant Biotechnologies presently has an average rating of “Hold” and an average price target of $11.50.

CollPlant Biotechnologies Trading Up 10.1%

The firm’s fifty day moving average price is $2.08 and its two-hundred day moving average price is $2.17. The stock has a market capitalization of $19.43 million, a PE ratio of -1.49 and a beta of 1.43.

CollPlant Biotechnologies (NASDAQ:CLGN) last released its quarterly earnings results on Wednesday, November 26th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.65). CollPlant Biotechnologies had a negative net margin of 491.31% and a negative return on equity of 102.00%. The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $16.52 million. As a group, sell-side analysts anticipate that CollPlant Biotechnologies Ltd. Sponsored ADR will post -1.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CollPlant Biotechnologies

A number of large investors have recently bought and sold shares of CLGN. Villere ST Denis J & Co. LLC boosted its position in CollPlant Biotechnologies by 7.7% during the third quarter. Villere ST Denis J & Co. LLC now owns 588,717 shares of the company’s stock worth $1,584,000 after purchasing an additional 41,850 shares in the last quarter. AMH Equity Ltd raised its stake in shares of CollPlant Biotechnologies by 24.3% during the 3rd quarter. AMH Equity Ltd now owns 200,000 shares of the company’s stock worth $538,000 after buying an additional 39,151 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in shares of CollPlant Biotechnologies by 3.7% during the 2nd quarter. Pinnacle Associates Ltd. now owns 507,193 shares of the company’s stock worth $690,000 after buying an additional 18,000 shares during the period. Institutional investors and hedge funds own 21.69% of the company’s stock.

CollPlant Biotechnologies Company Profile

CollPlant Biotechnologies Ltd. (NASDAQ: CLGN) is a regenerative medicine company that develops and commercializes recombinant human collagen (rhCollagen) and 3D bioprinting technologies for medical and aesthetic applications. The company’s proprietary plant-based rhCollagen is produced using genetically engineered tobacco plants to provide a scalable, animal-free source of human collagen that meets regulatory standards.

CollPlant’s product portfolio includes Vergenix™ wound care matrices and dermal fillers for aesthetic and reconstructive purposes, as well as a range of bioinks designed for 3D bioprinting of soft and hard tissues.