Short Interest in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Declines By 26.1%

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,700 shares, a decrease of 26.1% from the May 31st total of 2,300 shares. Based on an average daily volume of 7,200 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of CollPlant Biotechnologies in a research note on Thursday, May 30th.

Hedge Funds Weigh In On CollPlant Biotechnologies

Several large investors have recently made changes to their positions in CLGN. Villere ST Denis J & Co. LLC increased its stake in CollPlant Biotechnologies by 20.4% during the 4th quarter. Villere ST Denis J & Co. LLC now owns 361,293 shares of the company’s stock worth $2,309,000 after buying an additional 61,120 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in CollPlant Biotechnologies by 11.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 50,150 shares of the company’s stock worth $320,000 after buying an additional 5,100 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in CollPlant Biotechnologies by 13.3% during the 1st quarter. Pinnacle Associates Ltd. now owns 530,455 shares of the company’s stock worth $2,838,000 after buying an additional 62,346 shares during the period. 21.69% of the stock is currently owned by institutional investors and hedge funds.

CollPlant Biotechnologies Price Performance

CLGN stock traded up $0.01 during midday trading on Monday, hitting $4.98. 11,032 shares of the stock traded hands, compared to its average volume of 8,024. The firm has a market cap of $57.04 million, a P/E ratio of -7.32 and a beta of 0.09. The stock’s fifty day simple moving average is $5.62 and its 200-day simple moving average is $5.50. CollPlant Biotechnologies has a 1-year low of $4.22 and a 1-year high of $8.30.

CollPlant Biotechnologies (NASDAQ:CLGN) last posted its quarterly earnings results on Wednesday, May 29th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). CollPlant Biotechnologies had a negative return on equity of 24.74% and a negative net margin of 70.58%. The business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.60 million. On average, research analysts predict that CollPlant Biotechnologies will post -1.46 earnings per share for the current year.

About CollPlant Biotechnologies

CollPlant Biotechnologies Ltd., a regenerative and aesthetic medicine company, focuses on three-dimensional (3D) bioprinting of tissues and organs, and medical aesthetics in the United States, Canada, Israel, Europe, and internationally. Its products are based on recombinant type I human collagen that is produced with its proprietary plant based genetic engineering technology.