CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) Stock Short Interest Falls 60.2%

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totaling 52,237 shares, a decline of 60.2% from the August 31st total of 131,118 shares. Approximately 4.0% of the company’s stock are short sold. Based on an average trading volume of 211,002 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CollPlant Biotechnologies in a report on Friday, September 4th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CollPlant Biotechnologies presently has an average rating of “Reduce” and an average price target of $120.00.

CollPlant Biotechnologies Price Performance

CLGN traded down $0.09 during trading on Tuesday, reaching $3.79. 14,969 shares of the company’s stock were exchanged, compared to its average volume of 126,374. CollPlant Biotechnologies has a 1 year low of $2.64 and a 1 year high of $28.00. The company’s fifty day simple moving average is $3.41 and its 200-day simple moving average is $3.92. The stock has a market capitalization of $7.15 million, a P/E ratio of -0.26 and a beta of 1.79.

About CollPlant Biotechnologies

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.