CollPlant Biotechnologies (NASDAQ:CLGN) Shares Down 4.9% – What’s Next?

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) shares dropped 4.9% during mid-day trading on Thursday . The stock traded as low as $0.3799 and last traded at $0.3929. Approximately 22,297 shares changed hands during trading, a decline of 85% from the average daily volume of 152,876 shares. The stock had previously closed at $0.4130.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of CollPlant Biotechnologies in a research report on Monday, April 20th. D. Boral Capital lowered CollPlant Biotechnologies from a “buy” rating to a “hold” rating in a report on Friday, February 6th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.50.

CollPlant Biotechnologies Stock Performance

The business’s 50 day moving average price is $0.50 and its 200-day moving average price is $1.26. The company has a market cap of $5.80 million, a price-to-earnings ratio of -0.30 and a beta of 1.47.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Villere ST Denis J & Co. LLC boosted its holdings in 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 purchasing an additional 18,583 shares in the last quarter. AMH Equity Ltd raised its holdings in shares of 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 buying an additional 39,151 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of CollPlant Biotechnologies by 9.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 557,193 shares of the company’s stock worth $780,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds 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.