CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) Short Interest Down 49.6% in May

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

Institutional Trading of CollPlant Biotechnologies

An institutional investor recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. boosted its holdings in shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 557,193 shares of the company’s stock after purchasing 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 Trading Up 1.5%

CLGN stock traded up $0.01 during midday trading on Friday, hitting $0.34. The stock had a trading volume of 518,310 shares, compared to its average volume of 39,548. CollPlant Biotechnologies has a 52 week low of $0.27 and a 52 week high of $3.23. The stock has a 50-day simple moving average of $0.39 and a 200 day simple moving average of $0.95. The firm has a market capitalization of $4.89 million, a price-to-earnings ratio of -0.23 and a beta of 1.57.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its quarterly earnings results on Friday, May 29th. 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 net margin of 683.68% and a negative return on equity of 218.81%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.46 million.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.