CollPlant Biotechnologies (NASDAQ:CLGN) Trading Down 0.6% – Here’s Why

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN)’s stock price was down 0.6% during trading on Thursday . The company traded as low as $0.31 and last traded at $0.3412. 2,070,783 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 10,159,396 shares. The stock had previously closed at $0.3433.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $120.00.

CollPlant Biotechnologies Stock Performance

The firm has a 50-day moving average price of $3.32 and a two-hundred day moving average price of $4.19. The firm has a market cap of $51.26 million, a price-to-earnings ratio of -2.45 and a beta of 1.79.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. increased its stake in shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,193 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Pinnacle Associates Ltd. owned about 4.36% of CollPlant Biotechnologies worth $780,000 at the end of the most recent quarter. 21.69% of the stock is currently owned by hedge funds and other institutional investors.

About CollPlant Biotechnologies

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.