CollPlant Biotechnologies (NASDAQ:CLGN) Trading Down 0.6% – What’s Next?

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) shares dropped 0.6% on Thursday . The stock traded as low as $0.31 and last traded at $0.3412. Approximately 2,070,783 shares were traded during mid-day trading, a decline of 80% from the average session volume of 10,159,396 shares. The stock had previously closed at $0.3433.

Analysts Set New Price Targets

Separately, Weiss Ratings raised 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 Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CollPlant Biotechnologies presently has an average rating of “Reduce” and a consensus target price of $12.00.

CollPlant Biotechnologies Trading Down 0.6%

The stock’s 50-day moving average is $0.33 and its 200-day moving average is $0.42. The stock has a market cap of $4.93 million, a price-to-earnings ratio of -0.24 and a beta of 1.79.

CollPlant Biotechnologies shares are set to reverse split before the market opens on Friday, September 4th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, September 3rd.

Institutional Trading of CollPlant Biotechnologies

An institutional investor recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. raised its stake in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 557,193 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Pinnacle Associates Ltd. owned about 4.36% of CollPlant Biotechnologies worth $780,000 at the end of the most recent quarter. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.