CollPlant Biotechnologies (NASDAQ:CLGN) Shares Down 2.9% – Should You Sell?

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) traded down 2.9% on Monday . The stock traded as low as $2.33 and last traded at $2.35. 4,821 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 10,721 shares. The stock had previously closed at $2.42.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of CollPlant Biotechnologies in a research note on Thursday, March 27th.

CollPlant Biotechnologies Stock Down 2.9 %

The stock has a market capitalization of $26.92 million, a price-to-earnings ratio of -1.53 and a beta of 1.32. The stock’s 50-day simple moving average is $2.97 and its 200 day simple moving average is $3.63.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its earnings results on Wednesday, March 26th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.08. CollPlant Biotechnologies had a negative return on equity of 77.05% and a negative net margin of 2,680.00%. The company had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.36 million. As a group, equities research analysts anticipate that CollPlant Biotechnologies Ltd. will post -1.44 earnings per share for the current year.

Hedge Funds Weigh In On CollPlant Biotechnologies

A number of institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in CollPlant Biotechnologies by 110.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,405 shares of the company’s stock worth $30,000 after purchasing an additional 4,405 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of CollPlant Biotechnologies in the 4th quarter valued at $38,000. Finally, AMH Equity Ltd raised its position in shares of CollPlant Biotechnologies by 17.4% during the fourth quarter. AMH Equity Ltd now owns 116,500 shares of the company’s stock worth $419,000 after acquiring an additional 17,295 shares during the last quarter. 21.69% of the stock is owned by institutional investors.

CollPlant Biotechnologies Company Profile

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.