Short Interest in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) Declines By 50.2%

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 21,144 shares, a drop of 50.2% from the May 31st total of 42,484 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 112,211 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CollPlant Biotechnologies stock. Villere ST Denis J & Co. LLC raised its stake in CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 607,300 shares of the company’s stock after purchasing an additional 18,583 shares during the quarter. Villere ST Denis J & Co. LLC owned 4.75% of CollPlant Biotechnologies worth $850,000 at the end of the most recent quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.

CollPlant Biotechnologies Stock Down 1.3%

CollPlant Biotechnologies stock traded down $0.00 during mid-day trading on Tuesday, hitting $0.36. 75,682 shares of the stock were exchanged, compared to its average volume of 88,329. The stock has a market capitalization of $5.22 million, a price-to-earnings ratio of -0.25 and a beta of 1.57. CollPlant Biotechnologies has a 12 month low of $0.27 and a 12 month high of $3.23. The firm’s fifty day simple moving average is $0.38 and its two-hundred day simple moving average is $0.80.

CollPlant Biotechnologies (NASDAQ:CLGN) last released its quarterly earnings data on Friday, May 29th. The company reported ($0.23) earnings per share for the quarter, topping 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 the consensus estimate of $0.46 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a research 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. Based on data from MarketBeat, CollPlant Biotechnologies presently has an average rating of “Hold” and a consensus price target of $11.50.

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.