CollPlant Biotechnologies (NASDAQ:CLGN) Earns Buy Rating from D. Boral Capital

CollPlant Biotechnologies (NASDAQ:CLGN)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $14.00 price target on the stock. D. Boral Capital’s price target would suggest a potential upside of 228.64% from the stock’s previous close.

Several other research firms have also recently issued reports on CLGN. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of CollPlant Biotechnologies in a research report on Wednesday, August 21st. EF Hutton Acquisition Co. I raised shares of CollPlant Biotechnologies to a “strong-buy” rating in a research note on Monday, August 5th.

CollPlant Biotechnologies Price Performance

CollPlant Biotechnologies stock opened at $4.26 on Wednesday. The firm’s 50-day moving average is $4.33 and its two-hundred day moving average is $4.87. The stock has a market capitalization of $48.80 million, a P/E ratio of -2.77 and a beta of 0.44. CollPlant Biotechnologies has a 12-month low of $3.31 and a 12-month high of $6.99.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Villere ST Denis J & Co. LLC increased its position in shares of CollPlant Biotechnologies by 24.4% in the third quarter. Villere ST Denis J & Co. LLC now owns 484,867 shares of the company’s stock worth $2,407,000 after acquiring an additional 95,000 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in CollPlant Biotechnologies in the 3rd quarter valued at $112,000. Finally, Pinnacle Associates Ltd. raised its position in CollPlant Biotechnologies by 6.4% in the second quarter. Pinnacle Associates Ltd. now owns 564,360 shares of the company’s stock valued at $2,805,000 after purchasing an additional 33,905 shares during the period. Hedge funds and other institutional investors own 21.69% of the company’s stock.

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.