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

Shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) were up 5% on Tuesday . The stock traded as high as $0.3435 and last traded at $0.3280. Approximately 14,420 shares traded 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 research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, CollPlant Biotechnologies currently has an average rating of “Hold” and a consensus target price of $11.50.

CollPlant Biotechnologies Stock Up 5.0%

The stock has a market capitalization of $4.74 million, a price-to-earnings ratio of -0.23 and a beta of 1.60. The business has a 50-day simple moving average of $0.37 and a two-hundred day simple moving average of $0.67.

CollPlant Biotechnologies (NASDAQ:CLGN) last issued its quarterly earnings results on Saturday, May 30th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.46 million.

Institutional Inflows and Outflows

A hedge fund recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. boosted its holdings in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 557,193 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Pinnacle Associates Ltd. owned about 4.36% of CollPlant Biotechnologies worth $780,000 as of its most recent SEC filing. 21.69% of the stock is owned by institutional investors and hedge funds.

About CollPlant Biotechnologies

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.