CollPlant Biotechnologies (NASDAQ:CLGN) Stock Price Down 3.8% – Should You Sell?

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) shares fell 3.8% during trading on Thursday . The stock traded as low as $1.47 and last traded at $1.50. 66,522 shares changed hands during trading, an increase of 102% from the average session volume of 32,879 shares. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital lowered their price target on shares of CollPlant Biotechnologies from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, May 28th.

CollPlant Biotechnologies Price Performance

The firm has a 50 day moving average price of $2.09 and a 200-day moving average price of $3.01. The firm has a market cap of $19.08 million, a price-to-earnings ratio of -1.23 and a beta of 1.77.

CollPlant Biotechnologies (NASDAQ:CLGN) last released its earnings results on Wednesday, June 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.24. CollPlant Biotechnologies had a negative net margin of 560.92% and a negative return on equity of 87.33%. The company had revenue of $2.06 million for the quarter, compared to the consensus estimate of $9.76 million. On average, sell-side analysts expect that CollPlant Biotechnologies Ltd. Sponsored ADR will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On CollPlant Biotechnologies

Several large investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its holdings in CollPlant Biotechnologies by 110.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,405 shares of the company’s stock worth $30,000 after acquiring an additional 4,405 shares during the period. Renaissance Technologies LLC bought a new position in shares of CollPlant Biotechnologies in the 4th quarter worth $38,000. Finally, AMH Equity Ltd grew its stake in shares of CollPlant Biotechnologies by 17.4% during the fourth quarter. AMH Equity Ltd now owns 116,500 shares of the company’s stock worth $419,000 after purchasing an additional 17,295 shares during the period. 21.69% of the stock is currently owned by institutional investors and hedge funds.

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.