CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) Sees Large Drop in Short Interest

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN – Get Free Report) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 52,237 shares, a drop of 60.2% from the August 31st total of 131,118 shares. Based on an average daily volume of 211,002 shares, the short-interest ratio is currently 0.2 days. Currently, 4.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CollPlant Biotechnologies in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $120.00.

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CollPlant Biotechnologies Stock Down 4.7%

Shares of CLGN traded down $0.20 during midday trading on Monday, hitting $4.05. The company’s stock had a trading volume of 11,086 shares, compared to its average volume of 126,873. The stock has a market capitalization of $7.66 million, a price-to-earnings ratio of -0.28 and a beta of 1.79. CollPlant Biotechnologies has a one year low of $2.64 and a one year high of $31.70. The company’s fifty day simple moving average is $3.39 and its two-hundred day simple moving average is $3.93.

CollPlant Biotechnologies Company Profile

(Get Free Report)

CollPlant Biotechnologies Ltd. is an Israel-based regenerative medicine company developing products based on recombinant human collagen (rhCollagen). The company produces rhCollagen using genetically engineered tobacco plants, an approach designed to create collagen with consistent properties and without relying on animal or human tissues.

CollPlant’s technology is intended for use in tissue regeneration, medical aesthetics, wound care and organ manufacturing. Its product portfolio includes rhCollagen-based biomaterials and bioinks for three-dimensional bioprinting, which are designed to support the development of implants, tissue scaffolds and other regenerative medicine applications.

Founded in 2004 and headquartered in Rehovot, Israel, CollPlant has pursued collaborations and licensing arrangements with companies in the medical technology and bioprinting industries.

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