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

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 12,100 shares, a decrease of 21.4% from the October 31st total of 15,400 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 11,300 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

CLGN has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of CollPlant Biotechnologies in a research report on Friday. EF Hutton Acquisition Co. I upgraded CollPlant Biotechnologies to a “strong-buy” rating in a report on Monday, August 5th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $14.00 price target on shares of CollPlant Biotechnologies in a research note on Wednesday.

Institutional Investors Weigh In On CollPlant Biotechnologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin Edwards Inc. purchased a new stake in shares of CollPlant Biotechnologies in the third quarter worth approximately $112,000. Villere ST Denis J & Co. LLC increased its stake in CollPlant Biotechnologies by 24.4% in the third quarter. Villere ST Denis J & Co. LLC now owns 484,867 shares of the company’s stock worth $2,407,000 after purchasing an additional 95,000 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in CollPlant Biotechnologies by 6.4% in the second quarter. Pinnacle Associates Ltd. now owns 564,360 shares of the company’s stock worth $2,805,000 after purchasing an additional 33,905 shares during the period. Hedge funds and other institutional investors own 21.69% of the company’s stock.

CollPlant Biotechnologies Trading Up 5.4 %

CLGN stock traded up $0.23 during midday trading on Friday, hitting $4.48. The company’s stock had a trading volume of 13,919 shares, compared to its average volume of 10,285. The firm’s 50-day moving average is $4.29 and its 200-day moving average is $4.84. The company has a market cap of $51.30 million, a PE ratio of -2.91 and a beta of 0.44. CollPlant Biotechnologies has a 12 month low of $3.31 and a 12 month high of $6.99.

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