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

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 131,118 shares, an increase of 498.5% from the August 15th total of 21,907 shares. Currently, 10.0% of the shares of the stock are sold short. Based on an average daily volume of 17,402,039 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On CollPlant Biotechnologies

A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. lifted its holdings in shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 557,193 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Pinnacle Associates Ltd. owned approximately 4.36% of CollPlant Biotechnologies worth $780,000 as of its most recent SEC filing. Institutional investors and hedge funds own 21.69% of the company’s stock.

CollPlant Biotechnologies Stock Down 1.1%

Shares of CLGN stock traded down $0.04 during trading hours on Friday, reaching $3.50. 126,895 shares of the stock traded hands, compared to its average volume of 1,043,771. The firm has a market capitalization of $5.04 million, a PE ratio of -0.24 and a beta of 1.79. CollPlant Biotechnologies has a 1-year low of $2.64 and a 1-year high of $31.80. The business has a fifty day moving average price of $3.32 and a 200 day moving average price of $4.09.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CollPlant Biotechnologies in a research note on Friday, September 4th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CollPlant Biotechnologies currently has a consensus rating of “Reduce” and a consensus target price of $120.00.

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.