CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN – Get Free Report) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 21,144 shares, a decline 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 trading volume of 112,211 shares, the short-interest ratio is presently 0.2 days.
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 investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CollPlant Biotechnologies has an average rating of “Hold” and a consensus target price of $11.50.
CollPlant Biotechnologies Trading Down 1.3%
CollPlant Biotechnologies (NASDAQ:CLGN – Get Free Report) last issued its quarterly earnings data on Friday, May 29th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. CollPlant Biotechnologies had a negative return on equity of 218.81% and a negative net margin of 683.68%.The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.46 million.
Institutional Investors Weigh In On CollPlant Biotechnologies
An institutional investor recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. boosted its stake in shares of CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN – Free Report) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 own 21.69% of the company’s stock.
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.
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