CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN – Get Free Report) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 16,240 shares, a decline of 51.8% from the June 30th total of 33,721 shares. Based on an average daily volume of 29,266 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.
Hedge Funds Weigh In On CollPlant Biotechnologies
A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. increased its holdings in shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN – Free Report) by 9.9% during the 4th quarter, according to the company in its most recent 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 period. Pinnacle Associates Ltd. owned about 4.36% of CollPlant Biotechnologies worth $780,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a report 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.50.
CollPlant Biotechnologies Stock Up 0.7%
Shares of CollPlant Biotechnologies stock traded up $0.00 on Tuesday, hitting $0.32. 6,046 shares of the company were exchanged, compared to its average volume of 79,975. The company has a 50-day moving average price of $0.36 and a 200 day moving average price of $0.64. The stock has a market capitalization of $4.64 million, a price-to-earnings ratio of -0.22 and a beta of 1.60. CollPlant Biotechnologies has a 1-year low of $0.27 and a 1-year high of $3.23.
CollPlant Biotechnologies (NASDAQ:CLGN – Get Free Report) last issued its earnings results on Saturday, May 30th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.01. CollPlant Biotechnologies had a negative return on equity of 218.81% and a negative net margin of 683.68%.The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.46 million.
About CollPlant Biotechnologies
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.
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