CollPlant Biotechnologies (NASDAQ:CLGN) Stock Price Up 5% – Still a Buy?

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) shares traded up 5% during mid-day trading on Tuesday . The stock traded as high as $0.3435 and last traded at $0.3280. 14,420 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 36,582 shares. The stock had previously closed at $0.3123.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

CollPlant Biotechnologies Stock Performance

The firm has a market capitalization of $4.74 million, a P/E ratio of -0.23 and a beta of 1.60. The firm has a 50 day moving average price of $0.37 and a two-hundred day moving average price of $0.67.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its earnings results on Saturday, May 30th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. CollPlant Biotechnologies had a negative return on equity of 218.81% and a negative net margin of 683.68%.The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.46 million.

Institutional Trading of CollPlant Biotechnologies

A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. boosted its position in shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 557,193 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Pinnacle Associates Ltd. owned 4.36% of CollPlant Biotechnologies worth $780,000 at the end of the most recent reporting 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.