CollPlant Biotechnologies (NASDAQ:CLGN) Trading 2.1% Higher – What’s Next?

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

Analysts Set New Price Targets

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

CollPlant Biotechnologies Trading Up 2.1%

The stock has a market capitalization of $18.79 million, a PE ratio of -1.44 and a beta of 1.47. The business’s 50 day moving average is $1.83 and its 200 day moving average is $2.14.

CollPlant Biotechnologies (NASDAQ:CLGN) last posted its quarterly earnings data 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). CollPlant Biotechnologies had a negative return on equity of 102.00% and a negative net margin of 491.31%.The firm had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $16.52 million. As a group, analysts anticipate that CollPlant Biotechnologies Ltd. Sponsored ADR will post -1.44 EPS for the current year.

Hedge Funds Weigh In On CollPlant Biotechnologies

Large investors have recently bought and sold shares of the business. AMH Equity Ltd boosted its holdings in CollPlant Biotechnologies by 28.7% during the 2nd quarter. AMH Equity Ltd now owns 160,849 shares of the company’s stock valued at $219,000 after acquiring an additional 35,849 shares during the period. Pinnacle Associates Ltd. increased its stake in CollPlant Biotechnologies by 3.7% in the second quarter. Pinnacle Associates Ltd. now owns 507,193 shares of the company’s stock worth $690,000 after purchasing an additional 18,000 shares during the period. Finally, Villere ST Denis J & Co. LLC lifted its position in shares of 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 purchasing an additional 63,000 shares during the last quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.

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.