CollPlant Biotechnologies (NASDAQ:CLGN) Rating Increased to Hold at Zacks Investment Research

CollPlant Biotechnologies (NASDAQ:CLGNGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “CollPlant Biotechnologies Ltd. is a regenerative medicine company. It is focused on 3D bioprinting of tissues and organs, medical aesthetics and on developing and commercializing tissue repair products for orthobiologics and advanced wound care markets. CollPlant Biotechnologies Ltd., formerly knonw as CollPlant Holdings Ltd., is based in Rehovot, Israel. “

Shares of NASDAQ:CLGN traded down $0.87 during mid-day trading on Tuesday, reaching $9.01. 29,125 shares of the company traded hands, compared to its average volume of 43,704. The company’s 50 day moving average price is $10.15 and its 200-day moving average price is $12.34. The firm has a market cap of $51.09 million and a PE ratio of -900.10. CollPlant Biotechnologies has a 52 week low of $7.50 and a 52 week high of $23.49.

CollPlant Biotechnologies (NASDAQ:CLGNGet Rating) last announced its quarterly earnings data on Thursday, March 24th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). The company had revenue of $0.31 million for the quarter. CollPlant Biotechnologies had a net margin of 1.52% and a return on equity of 0.49%. On average, analysts forecast that CollPlant Biotechnologies will post -0.38 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Management of Virginia LLC lifted its holdings in CollPlant Biotechnologies by 7.8% in the 4th quarter. Investment Management of Virginia LLC now owns 615,554 shares of the company’s stock worth $10,071,000 after purchasing an additional 44,653 shares in the last quarter. Villere ST Denis J & Co. LLC raised its holdings in shares of CollPlant Biotechnologies by 3.6% during the 1st quarter. Villere ST Denis J & Co. LLC now owns 265,997 shares of the company’s stock worth $2,984,000 after acquiring an additional 9,125 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of CollPlant Biotechnologies by 38.2% during the 1st quarter. ARK Investment Management LLC now owns 228,657 shares of the company’s stock worth $2,566,000 after acquiring an additional 63,203 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of CollPlant Biotechnologies by 26.1% during the 1st quarter. Brown Advisory Inc. now owns 77,349 shares of the company’s stock worth $868,000 after acquiring an additional 15,999 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of CollPlant Biotechnologies by 28.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 75,270 shares of the company’s stock worth $861,000 after acquiring an additional 16,576 shares in the last quarter.

About CollPlant Biotechnologies (Get Rating)

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, and Europe. Its products are based on recombinant type I human collagen that is produced with its proprietary plant based genetic engineering technology.

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