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

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 4,800 shares, a decrease of 25.0% from the February 13th total of 6,400 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 8,600 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On CollPlant Biotechnologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its position in CollPlant Biotechnologies by 110.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,405 shares of the company’s stock valued at $30,000 after purchasing an additional 4,405 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of CollPlant Biotechnologies in the fourth quarter worth $38,000. Benjamin Edwards Inc. bought a new stake in CollPlant Biotechnologies during the 3rd quarter valued at $112,000. Finally, AMH Equity Ltd boosted its position in CollPlant Biotechnologies by 17.4% during the 4th quarter. AMH Equity Ltd now owns 116,500 shares of the company’s stock valued at $419,000 after buying an additional 17,295 shares during the period. 21.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CLGN. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of CollPlant Biotechnologies in a research note on Friday, November 29th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of CollPlant Biotechnologies in a research note on Wednesday, February 12th.

CollPlant Biotechnologies Stock Up 3.5 %

NASDAQ CLGN opened at $3.27 on Friday. The company has a 50-day simple moving average of $3.68 and a two-hundred day simple moving average of $4.09. CollPlant Biotechnologies has a 12-month low of $3.00 and a 12-month high of $6.75. The firm has a market cap of $37.46 million, a price-to-earnings ratio of -2.12 and a beta of 1.07.

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.