HC Wainwright Reaffirms Buy Rating for CollPlant Biotechnologies (NASDAQ:CLGN)

CollPlant Biotechnologies (NASDAQ:CLGN)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $11.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 145.54% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. D. Boral Capital reiterated a “buy” rating and set a $14.00 target price on shares of CollPlant Biotechnologies in a report on Wednesday. EF Hutton Acquisition Co. I raised shares of CollPlant Biotechnologies to a “strong-buy” rating in a research report on Monday, August 5th.

CollPlant Biotechnologies Stock Performance

Shares of CLGN opened at $4.48 on Friday. The company has a 50 day moving average price of $4.29 and a 200-day moving average price of $4.83. CollPlant Biotechnologies has a fifty-two week low of $3.31 and a fifty-two week high of $6.99. The stock has a market capitalization of $51.32 million, a PE ratio of -2.91 and a beta of 0.44.

Institutional Trading of CollPlant Biotechnologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. acquired a new stake in CollPlant Biotechnologies during the 3rd quarter worth about $112,000. Villere ST Denis J & Co. LLC raised its holdings in CollPlant Biotechnologies by 24.4% during the third quarter. Villere ST Denis J & Co. LLC now owns 484,867 shares of the company’s stock valued at $2,407,000 after buying an additional 95,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in CollPlant Biotechnologies by 6.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 564,360 shares of the company’s stock worth $2,805,000 after purchasing an additional 33,905 shares during the last quarter. 21.69% of the stock is currently owned by institutional investors.

About CollPlant Biotechnologies

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.