CollPlant Biotechnologies (NASDAQ:CLGN) Trading 2.1% Higher – Here’s Why

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) rose 2.1% during trading on Friday . The stock traded as high as $1.51 and last traded at $1.47. Approximately 14,140 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 34,498 shares. The stock had previously closed at $1.44.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CLGN shares. D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of CollPlant Biotechnologies in a research note on Friday, November 28th. Weiss Ratings restated a “sell (e+)” rating on shares of CollPlant Biotechnologies in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CollPlant Biotechnologies presently has an average rating of “Hold” and a consensus target price of $11.50.

CollPlant Biotechnologies Stock Performance

The firm has a fifty day moving average price of $1.83 and a 200 day moving average price of $2.15. The company has a market cap of $18.79 million, a price-to-earnings ratio of -1.44 and a beta of 1.47.

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

Hedge Funds Weigh In On CollPlant Biotechnologies

A number of hedge funds and other institutional investors have recently bought and sold shares of CLGN. Villere ST Denis J & Co. LLC increased its holdings in shares of CollPlant Biotechnologies by 13.0% in the second quarter. Villere ST Denis J & Co. LLC now owns 546,867 shares of the company’s stock valued at $744,000 after purchasing an additional 63,000 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings 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. Finally, AMH Equity Ltd boosted its holdings in shares of CollPlant Biotechnologies by 28.7% during the 2nd quarter. AMH Equity Ltd now owns 160,849 shares of the company’s stock worth $219,000 after buying an additional 35,849 shares during the period. Institutional investors 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.