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

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 5,800 shares, a decrease of 34.8% from the April 15th total of 8,900 shares. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On CollPlant Biotechnologies

A number of large investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of CollPlant Biotechnologies by 11.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 50,150 shares of the company's stock worth $320,000 after acquiring an additional 5,100 shares during the period. Villere ST Denis J & Co. LLC increased its position 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 purchasing an additional 61,120 shares during the period. Finally, Pinnacle Associates Ltd. increased its position 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 purchasing an additional 62,346 shares during the period. Hedge funds and other institutional investors own 21.69% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and set a $11.00 price objective on shares of CollPlant Biotechnologies in a research report on Friday, April 5th.

CollPlant Biotechnologies Stock Down 1.8 %

CLGN traded down $0.12 on Friday, hitting $6.63. 1,707 shares of the company traded hands, compared to its average volume of 6,007. CollPlant Biotechnologies has a 12-month low of $4.22 and a 12-month high of $8.90. The company has a 50 day moving average of $5.39 and a 200-day moving average of $5.49. The stock has a market capitalization of $75.89 million, a PE ratio of -10.36 and a beta of 0.23.

CollPlant Biotechnologies (NASDAQ:CLGN - Get Free Report) last released its quarterly earnings results on Thursday, April 4th. The company reported ($0.42) EPS for the quarter. CollPlant Biotechnologies had a negative return on equity of 22.17% and a negative net margin of 64.05%. The company had revenue of $0.30 million for the quarter. On average, research analysts anticipate that CollPlant Biotechnologies will post -1.42 EPS for the current year.

CollPlant Biotechnologies Company Profile

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, and Europe. Its products are based on recombinant type I human collagen that is produced with its proprietary plant based genetic engineering technology.

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