CollPlant Biotechnologies (NASDAQ:CLGN) Trading Up 0.8% – Here’s Why

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN)’s share price was up 0.8% during trading on Friday . The stock traded as high as $0.6150 and last traded at $0.6150. Approximately 3,768 shares changed hands during trading, a decline of 93% from the average daily volume of 51,113 shares. The stock had previously closed at $0.61.

Analyst Upgrades and Downgrades

CLGN has been the topic of a number of research reports. D. Boral Capital cut shares of CollPlant Biotechnologies from a “buy” rating to a “hold” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of CollPlant Biotechnologies in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.50.

CollPlant Biotechnologies Stock Up 0.8%

The firm has a fifty day moving average price of $1.01 and a two-hundred day moving average price of $1.74. The stock has a market capitalization of $7.87 million, a P/E ratio of -0.60 and a beta of 3.02.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLGN. Pinnacle Associates Ltd. lifted its stake in shares of CollPlant Biotechnologies by 9.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 557,193 shares of the company’s stock worth $780,000 after buying an additional 50,000 shares in the last quarter. Villere ST Denis J & Co. LLC increased its position in shares of CollPlant Biotechnologies by 3.2% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 607,300 shares of the company’s stock valued at $850,000 after acquiring an additional 18,583 shares in the last quarter. Finally, AMH Equity Ltd raised its holdings in CollPlant Biotechnologies by 24.3% in the 3rd quarter. AMH Equity Ltd now owns 200,000 shares of the company’s stock worth $538,000 after acquiring an additional 39,151 shares during the last quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.

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.