CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) Sees Large Decrease in Short Interest

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 21,144 shares, a decline of 50.2% from the May 31st total of 42,484 shares. Based on an average daily volume of 112,211 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CollPlant Biotechnologies currently has a consensus rating of “Hold” and an average target price of $11.50.

Institutional Inflows and Outflows

A hedge fund recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. increased its position in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 557,193 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Pinnacle Associates Ltd. owned about 4.36% of CollPlant Biotechnologies worth $780,000 at the end of the most recent reporting period. 21.69% of the stock is currently owned by institutional investors.

CollPlant Biotechnologies Trading Up 2.3%

CLGN traded up $0.01 during trading hours on Thursday, hitting $0.35. The company’s stock had a trading volume of 5,420 shares, compared to its average volume of 87,431. The company has a 50-day simple moving average of $0.38 and a 200 day simple moving average of $0.78. The firm has a market capitalization of $5.02 million, a PE ratio of -0.24 and a beta of 1.60. CollPlant Biotechnologies has a fifty-two week low of $0.27 and a fifty-two week high of $3.23.

CollPlant Biotechnologies (NASDAQ:CLGN) last issued its quarterly earnings results on Saturday, May 30th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.46 million. CollPlant Biotechnologies had a negative return on equity of 218.81% and a negative net margin of 683.68%.

CollPlant Biotechnologies Company Profile

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.