CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN – Get Free Report) shares dropped 0.6% during mid-day trading on Thursday . The stock traded as low as $0.31 and last traded at $0.3412. Approximately 2,070,783 shares traded hands during trading, a decline of 80% from the average session volume of 10,159,396 shares. The stock had previously closed at $0.3433.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $12.00.
Read Our Latest Research Report on CollPlant Biotechnologies
CollPlant Biotechnologies Stock Performance
CollPlant Biotechnologies’s stock is going to reverse split on the morning of Friday, September 4th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, September 3rd.
Hedge Funds Weigh In On CollPlant Biotechnologies
An institutional investor recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. raised its stake in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN – Free Report) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 557,193 shares of the company’s stock after purchasing 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. Hedge funds and other 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.
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