CollPlant Biotechnologies (NASDAQ:CLGN) Cut to Hold at D. Boral Capital

D. Boral Capital downgraded shares of CollPlant Biotechnologies (NASDAQ:CLGN) from a buy rating to a hold rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CollPlant Biotechnologies in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.50.

CollPlant Biotechnologies Stock Performance

Shares of NASDAQ CLGN opened at $0.80 on Friday. CollPlant Biotechnologies has a fifty-two week low of $0.66 and a fifty-two week high of $4.98. The company has a market cap of $10.22 million, a price-to-earnings ratio of -0.78 and a beta of 2.27. The business’s 50 day moving average price is $1.62 and its 200-day moving average price is $2.15.

CollPlant Biotechnologies (NASDAQ:CLGN) last issued its earnings results on Wednesday, November 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.65). CollPlant Biotechnologies had a negative return on equity of 102.00% and a negative net margin of 491.31%.The business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $16.52 million. Sell-side analysts predict that CollPlant Biotechnologies will post -1.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Villere ST Denis J & Co. LLC raised its position in shares of CollPlant Biotechnologies by 13.0% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 546,867 shares of the company’s stock valued at $744,000 after purchasing an additional 63,000 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of CollPlant Biotechnologies by 9.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 557,193 shares of the company’s stock worth $780,000 after acquiring an additional 50,000 shares during the last quarter. Finally, AMH Equity Ltd raised its stake in CollPlant Biotechnologies by 24.3% during the 3rd quarter. AMH Equity Ltd now owns 200,000 shares of the company’s stock valued at $538,000 after acquiring an additional 39,151 shares in the last 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.