CollPlant Biotechnologies (NASDAQ:CLGN) Shares Down 0.8% – Time to Sell?

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) was down 0.8% during mid-day trading on Friday . The company traded as low as $1.82 and last traded at $1.89. Approximately 13,975 shares changed hands during trading, a decline of 34% from the average daily volume of 21,180 shares. The stock had previously closed at $1.9060.

Analyst Ratings Changes

A number of research analysts have weighed in on CLGN shares. D. Boral Capital reaffirmed a “buy” rating and issued a $12.00 price target 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, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.50.

CollPlant Biotechnologies Price Performance

The business’s 50-day moving average is $1.71 and its two-hundred day moving average is $2.17. The firm has a market cap of $24.15 million, a P/E ratio of -1.85 and a beta of 1.47.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its quarterly earnings data on Wednesday, November 26th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.65). The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $16.52 million. CollPlant Biotechnologies had a negative net margin of 491.31% and a negative return on equity of 102.00%. Equities research analysts predict that CollPlant Biotechnologies Ltd. Sponsored ADR will post -1.44 EPS for the current year.

Institutional Investors Weigh In On CollPlant Biotechnologies

A number of institutional investors and hedge funds have recently made changes to their positions in CLGN. Villere ST Denis J & Co. LLC increased its position in CollPlant Biotechnologies by 13.0% during the second quarter. Villere ST Denis J & Co. LLC now owns 546,867 shares of the company’s stock worth $744,000 after buying an additional 63,000 shares during the last quarter. AMH Equity Ltd boosted its stake in CollPlant Biotechnologies by 24.3% in the 3rd quarter. AMH Equity Ltd now owns 200,000 shares of the company’s stock valued at $538,000 after purchasing an additional 39,151 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of CollPlant Biotechnologies by 3.7% in the second quarter. Pinnacle Associates Ltd. now owns 507,193 shares of the company’s stock valued at $690,000 after acquiring an additional 18,000 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.