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

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 42,484 shares, a drop of 49.6% from the May 14th total of 84,316 shares. Based on an average daily volume of 38,729 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Villere ST Denis J & Co. LLC increased its position in shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 607,300 shares of the company’s stock after acquiring an additional 18,583 shares during the period. Villere ST Denis J & Co. LLC owned approximately 4.75% of CollPlant Biotechnologies worth $850,000 at the end of the most recent quarter. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.50.

CollPlant Biotechnologies Stock Down 1.8%

CLGN stock traded down $0.01 during mid-day trading on Monday, reaching $0.33. The company had a trading volume of 266,233 shares, compared to its average volume of 91,153. The stock has a market capitalization of $4.80 million, a P/E ratio of -0.23 and a beta of 1.57. CollPlant Biotechnologies has a one year low of $0.27 and a one year high of $3.23. The stock’s 50-day simple moving average is $0.39 and its two-hundred day simple moving average is $0.94.

CollPlant Biotechnologies (NASDAQ:CLGN) last posted its earnings results on Friday, May 29th. The company reported ($0.23) earnings per share (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 analysts’ expectations of $0.46 million. CollPlant Biotechnologies had a negative return on equity of 218.81% and a negative net margin of 683.68%.

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.