TELA Bio, Inc. (NASDAQ:TELA) Sees Significant Increase in Short Interest

TELA Bio, Inc. (NASDAQ:TELA) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 644,626 shares, a growth of 26.8% from the January 29th total of 508,384 shares. Based on an average daily trading volume, of 596,023 shares, the short-interest ratio is presently 1.1 days. Approximately 1.7% of the shares of the company are short sold. Approximately 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 596,023 shares, the short-interest ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TELA. Canaccord Genuity Group cut their price objective on TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Loop Capital set a $3.00 price target on shares of TELA Bio in a report on Monday, December 1st. Piper Sandler restated a “neutral” rating and set a $1.25 price target (down from $2.00) on shares of TELA Bio in a research report on Friday, November 14th. Citizens Jmp decreased their price objective on shares of TELA Bio from $7.00 to $5.00 and set a “market outperform” rating for the company in a report on Friday, November 14th. Finally, Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a research note on Monday, December 1st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.25.

TELA Bio Price Performance

TELA opened at $0.81 on Wednesday. The company has a market capitalization of $32.66 million, a price-to-earnings ratio of -0.91 and a beta of 0.88. The company has a quick ratio of 2.62, a current ratio of 3.30 and a debt-to-equity ratio of 26.65. The firm has a 50-day moving average price of $0.95 and a 200-day moving average price of $1.24. TELA Bio has a twelve month low of $0.67 and a twelve month high of $2.52.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. WealthTrust Axiom LLC bought a new position in shares of TELA Bio during the 2nd quarter valued at $40,000. Stonepine Capital Management LLC lifted its stake in TELA Bio by 1.4% in the second quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock worth $4,042,000 after purchasing an additional 28,537 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in shares of TELA Bio during the third quarter valued at about $154,000. GSA Capital Partners LLP grew its stake in shares of TELA Bio by 106.7% during the third quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock valued at $158,000 after buying an additional 54,613 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of TELA Bio by 161.3% in the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after buying an additional 21,781 shares during the period. 94.35% of the stock is owned by institutional investors.

About TELA Bio

TELA Bio, Inc (NASDAQ: TELA) is a commercial‐stage medical technology company headquartered in Malvern, Pennsylvania. The company is focused on developing, manufacturing and commercializing regenerative medicine and advanced soft tissue repair solutions. By integrating proprietary biomaterials and processing technologies, TELA Bio aims to offer products that support the body’s natural healing processes in wound closure, hernia repair, reconstructive surgery and other surgical specialties.

The company’s product portfolio includes acellular dermal matrices, hemostatic agents and tissue scaffold systems.