CollPlant Biotechnologies (NASDAQ:CLGN) Trading Down 0.8% – Here’s Why

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN)’s stock price dropped 0.8% during mid-day trading on Wednesday . The stock traded as low as $3.60 and last traded at $3.60. Approximately 11,516 shares changed hands during trading, an increase of 7% from the average daily volume of 10,738 shares. The stock had previously closed at $3.63.

Analyst Ratings Changes

Several brokerages have commented on CLGN. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of CollPlant Biotechnologies in a report on Friday, November 29th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 price objective on shares of CollPlant Biotechnologies in a research note on Wednesday, November 27th.

CollPlant Biotechnologies Price Performance

The company’s 50-day moving average price is $3.92 and its two-hundred day moving average price is $4.51. The company has a market capitalization of $41.24 million, a price-to-earnings ratio of -2.34 and a beta of 0.51.

Institutional Investors Weigh In On CollPlant Biotechnologies

A hedge fund recently raised its position in CollPlant Biotechnologies stock. Villere ST Denis J & Co. LLC increased its stake in shares of CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 24.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 484,867 shares of the company’s stock after acquiring an additional 95,000 shares during the quarter. Villere ST Denis J & Co. LLC owned approximately 4.23% of CollPlant Biotechnologies worth $2,407,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.

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.