TELA Bio, Inc. (NASDAQ:TELA) Short Interest Up 55.5% in March

by · The Markets Daily

TELA Bio, Inc. (NASDAQ:TELA – Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 694,100 shares, a growth of 55.5% from the March 15th total of 446,400 shares. Based on an average daily trading volume, of 273,500 shares, the short-interest ratio is presently 2.5 days. Approximately 1.9% of the company’s shares are short sold.

Institutional Investors Weigh In On TELA Bio

A number of institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. purchased a new position in shares of TELA Bio during the 4th quarter valued at $57,000. Commonwealth Equity Services LLC grew its stake in TELA Bio by 91.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock valued at $86,000 after purchasing an additional 13,555 shares in the last quarter. Walleye Capital LLC acquired a new position in TELA Bio in the 4th quarter worth about $91,000. Jane Street Group LLC raised its stake in shares of TELA Bio by 30.5% during the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock worth $93,000 after purchasing an additional 7,174 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of TELA Bio by 95.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company’s stock valued at $95,000 after buying an additional 15,283 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TELA shares. Piper Sandler lowered shares of TELA Bio from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $5.00 to $2.00 in a research note on Friday, March 21st. Canaccord Genuity Group lowered their price objective on TELA Bio from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 21st.

Get Our Latest Report on TELA

TELA Bio Price Performance

Shares of TELA Bio stock traded down $0.00 on Friday, hitting $0.96. The company had a trading volume of 76,557 shares, compared to its average volume of 228,535. TELA Bio has a 52 week low of $0.86 and a 52 week high of $6.50. The company has a market cap of $37.66 million, a PE ratio of -0.57 and a beta of 0.98. The business has a 50-day simple moving average of $1.89 and a 200-day simple moving average of $2.48. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81.

TELA Bio (NASDAQ:TELA – Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.01. The firm had revenue of $17.65 million for the quarter, compared to analyst estimates of $23.17 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. Research analysts expect that TELA Bio will post -1.37 EPS for the current fiscal year.

About TELA Bio

(Get Free Report)

TELA Bio, Inc, a commercial-stage medical technology company, focuses on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's anatomy. The company provides a portfolio of OviTex Reinforced Tissue Matrix (OviTex) products for hernia repair and abdominal wall reconstruction; and OviTex PRS Reinforced Tissue Matrix products to address the unmet needs in plastic and reconstructive surgery, as well as OviTex for Laparoscopic and Robotic Procedures, a sterile reinforced tissue matrix derived from ovine rumen with polypropylene fiber intended to be used in laparoscopic and robotic-assisted hernia surgical repairs.

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