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 March. As of March 15th, there was short interest totalling 1,900 shares, a decrease of 60.4% from the February 28th total of 4,800 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 9,500 shares, the days-to-cover ratio is presently 0.2 days.

CollPlant Biotechnologies Trading Down 3.2 %

Shares of NASDAQ CLGN opened at $2.71 on Thursday. The firm has a 50-day moving average of $3.50 and a two-hundred day moving average of $3.96. The company has a market capitalization of $31.03 million, a price-to-earnings ratio of -1.76 and a beta of 1.07. CollPlant Biotechnologies has a twelve month low of $2.56 and a twelve month high of $6.75.

Institutional Trading of CollPlant Biotechnologies

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in shares of CollPlant Biotechnologies by 110.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,405 shares of the company’s stock worth $30,000 after purchasing an additional 4,405 shares during the period. Renaissance Technologies LLC acquired a new stake in CollPlant Biotechnologies during the 4th quarter valued at $38,000. Benjamin Edwards Inc. purchased a new position in shares of CollPlant Biotechnologies during the third quarter valued at $112,000. Finally, AMH Equity Ltd increased its holdings in shares of CollPlant Biotechnologies by 17.4% in the 4th quarter. AMH Equity Ltd now owns 116,500 shares of the company’s stock valued at $419,000 after purchasing an additional 17,295 shares during the period. 21.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CLGN has been the topic of a number of research analyst reports. D. Boral Capital reiterated a “buy” rating and set a $14.00 price objective on shares of CollPlant Biotechnologies in a research note on Wednesday, February 12th. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of CollPlant Biotechnologies in a research report on Friday, November 29th.

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.