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

Shares of CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) fell 0.8% on Wednesday . The company traded as low as $3.60 and last traded at $3.60. 11,516 shares changed hands during trading, an increase of 7% from the average session volume of 10,738 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

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

CollPlant Biotechnologies Stock Performance

The company has a 50 day moving average price of $3.91 and a 200 day moving average price of $4.51. The company has a market capitalization of $43.64 million, a price-to-earnings ratio of -2.47 and a beta of 0.51.

Institutional Investors Weigh In On CollPlant Biotechnologies

An institutional investor recently bought a new position in CollPlant Biotechnologies stock. Benjamin Edwards Inc. purchased a new stake in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,810 shares of the company’s stock, valued at approximately $112,000. Benjamin Edwards Inc. owned approximately 0.21% of CollPlant Biotechnologies as of its most recent filing with the Securities & Exchange Commission. 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.