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

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) saw a large decline in short interest in 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. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 112,211 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

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

CollPlant Biotechnologies Trading Up 2.6%

NASDAQ:CLGN traded up $0.01 during midday trading on Wednesday, reaching $0.36. The company had a trading volume of 6,978 shares, compared to its average volume of 87,961. The firm has a market capitalization of $5.16 million, a price-to-earnings ratio of -0.25 and a beta of 1.57. The stock’s fifty day simple moving average is $0.38 and its 200-day simple moving average is $0.79. CollPlant Biotechnologies has a 12-month low of $0.27 and a 12-month high of $3.23.

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

Institutional Inflows and Outflows

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

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.