TELA Bio, Inc. (NASDAQ:TELA) Short Interest Update

TELA Bio, Inc. (NASDAQ:TELA – Get Rating) was the recipient of a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 563,300 shares, a growth of 22.6% from the December 15th total of 459,300 shares. Based on an average trading volume of 38,100 shares, the short-interest ratio is presently 14.8 days. Currently, 4.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research analysts have recently commented on TELA shares. JMP Securities lowered their target price on shares of TELA Bio from $22.00 to $20.00 and set a “market outperform” rating on the stock in a report on Thursday, November 10th. Piper Sandler dropped their target price on shares of TELA Bio from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 10th.

Insider Activity at TELA Bio

In other news, major shareholder Opaleye Management Inc. acquired 20,262 shares of TELA Bio stock in a transaction on Thursday, November 3rd. The shares were purchased at an average price of $7.81 per share, with a total value of $158,246.22. Following the acquisition, the insider now owns 1,948,000 shares in the company, valued at $15,213,880. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On TELA Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in TELA. Parkman Healthcare Partners LLC increased its position in shares of TELA Bio by 1.2% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 110,280 shares of the company’s stock worth $940,000 after purchasing an additional 1,296 shares during the last quarter. Kamunting Street Capital Management L.P. acquired a new stake in TELA Bio in the third quarter valued at $1,108,000. Essex Woodlands Management Inc. grew its holdings in TELA Bio by 15.3% in the third quarter. Essex Woodlands Management Inc. now owns 4,110,709 shares of the company’s stock valued at $35,023,000 after purchasing an additional 545,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of TELA Bio by 17.6% in the third quarter. BlackRock Inc. now owns 17,203 shares of the company’s stock valued at $146,000 after acquiring an additional 2,578 shares in the last quarter. Finally, Worth Venture Partners LLC lifted its position in shares of TELA Bio by 236.4% in the third quarter. Worth Venture Partners LLC now owns 380,196 shares of the company’s stock valued at $3,239,000 after acquiring an additional 267,184 shares in the last quarter.

TELA Bio Price Performance

Shares of NASDAQ:TELA opened at $12.00 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 4.86 and a quick ratio of 4.06. TELA Bio has a 1-year low of $5.15 and a 1-year high of $13.37. The company has a market capitalization of $229.91 million, a P/E ratio of -4.20 and a beta of 0.98. The firm’s 50 day simple moving average is $10.10 and its two-hundred day simple moving average is $8.96.

TELA Bio (NASDAQ:TELA – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). TELA Bio had a negative net margin of 112.49% and a negative return on equity of 321.48%. The firm had revenue of $11.16 million for the quarter, compared to the consensus estimate of $10.65 million. Research analysts expect that TELA Bio will post -2.74 EPS for the current fiscal year.

About TELA Bio

(Get Rating)

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. It 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.