TELA Bio, Inc. (NASDAQ:TELA – Get Rating) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 143,100 shares, a growth of 209.7% from the March 15th total of 46,200 shares. Based on an average daily trading volume, of 41,300 shares, the short-interest ratio is currently 3.5 days. Currently, 2.8% of the shares of the stock are short sold.
A number of equities analysts have issued reports on TELA shares. Zacks Investment Research raised TELA Bio from a “sell” rating to a “hold” rating in a report on Tuesday. JMP Securities reaffirmed a “buy” rating and issued a $22.00 target price on shares of TELA Bio in a report on Tuesday, March 22nd.
In other TELA Bio news, insider Ew Healthcare Partners Fund 2, purchased 5,000 shares of the stock in a transaction dated Thursday, March 31st. The stock was bought at an average price of $11.54 per share, with a total value of $57,700.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 53,636 shares of company stock valued at $625,467 in the last three months. 15.90% of the stock is owned by insiders.
Shares of TELA opened at $10.00 on Friday. TELA Bio has a 12-month low of $9.60 and a 12-month high of $16.53. The business has a 50-day simple moving average of $11.84 and a two-hundred day simple moving average of $12.31. The company has a quick ratio of 4.86, a current ratio of 5.58 and a debt-to-equity ratio of 1.57.
TELA Bio (NASDAQ:TELA – Get Rating) last issued its earnings results on Monday, March 21st. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.01). TELA Bio had a negative return on equity of 106.93% and a negative net margin of 112.94%. During the same period last year, the firm posted ($0.54) earnings per share. As a group, analysts expect that TELA Bio will post -1.86 EPS for the current fiscal year.
About TELA Bio (Get Rating)
TELA Bio, Inc, a medical technology company, focuses on the design, development, and marketing of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. 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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