Short Interest in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) Decreases By 51.8%

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) saw a large decrease in short interest in July. As of July 15th, there was short interest totaling 16,240 shares, a decrease of 51.8% from the June 30th total of 33,721 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 29,266 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. boosted its stake in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,193 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Pinnacle Associates Ltd. owned 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 Trading Down 1.8%

NASDAQ:CLGN traded down $0.01 during mid-day trading on Wednesday, reaching $0.32. 13,613 shares of the stock were exchanged, compared to its average volume of 79,576. CollPlant Biotechnologies has a 1-year low of $0.27 and a 1-year high of $3.23. The firm has a market capitalization of $4.65 million, a PE ratio of -0.22 and a beta of 1.60. The business has a fifty day moving average price of $0.36 and a 200 day moving average price of $0.63.

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

Wall Street Analysts Forecast Growth

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

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.