CollPlant Biotechnologies (NASDAQ:CLGN) Trading Up 2.1% – Here’s Why

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) traded up 2.1% during trading on Friday . The stock traded as high as $1.46 and last traded at $1.44. 62,691 shares changed hands during mid-day trading, an increase of 76% from the average session volume of 35,672 shares. The stock had previously closed at $1.41.

Wall Street Analyst Weigh In

Separately, D. Boral Capital dropped their price target on CollPlant Biotechnologies from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th.

CollPlant Biotechnologies Stock Up 2.1%

The firm has a market capitalization of $18.31 million, a P/E ratio of -1.18 and a beta of 1.33. The business has a 50-day moving average price of $1.81 and a 200-day moving average price of $2.74.

CollPlant Biotechnologies (NASDAQ:CLGN) last released its quarterly earnings data on Wednesday, June 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.24. The business had revenue of $2.06 million for the quarter, compared to analysts’ expectations of $9.76 million. CollPlant Biotechnologies had a negative return on equity of 87.33% and a negative net margin of 560.92%. As a group, sell-side analysts forecast that CollPlant Biotechnologies Ltd. Sponsored ADR will post -1.44 EPS for the current year.

Institutional Trading of CollPlant Biotechnologies

A number of institutional investors and hedge funds have recently modified their holdings of CLGN. Wells Fargo & Company MN grew its position in CollPlant Biotechnologies by 110.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,405 shares of the company’s stock valued at $30,000 after acquiring an additional 4,405 shares during the period. Renaissance Technologies LLC bought a new stake in CollPlant Biotechnologies in the fourth quarter valued at $38,000. Finally, AMH Equity Ltd grew its position in CollPlant Biotechnologies by 7.3% in the first quarter. AMH Equity Ltd now owns 125,000 shares of the company’s stock valued at $322,000 after acquiring an additional 8,500 shares during the period. 21.69% of the stock is currently owned by institutional investors.

About CollPlant Biotechnologies

CollPlant Biotechnologies Ltd., a regenerative and aesthetic medicine company, focuses on three-dimensional (3D) bioprinting of tissues and organs, and medical aesthetics in the United States, Canada, Israel, Europe, and internationally. Its products are based on recombinant type I human collagen that is produced with its proprietary plant based genetic engineering technology.