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

TELA Bio, Inc. (NASDAQ:TELA) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 690,940 shares, an increase of 19.6% from the March 15th total of 577,693 shares. Based on an average trading volume of 238,908 shares, the days-to-cover ratio is currently 2.9 days. Approximately 1.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TELA. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd. Canaccord Genuity Group dropped their price objective on TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Citizens Jmp dropped their price target on TELA Bio from $5.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Friday, March 27th. Piper Sandler dropped their price target on TELA Bio from $1.25 to $1.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Finally, Lake Street Capital dropped their price target on TELA Bio from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, TELA Bio presently has an average rating of “Hold” and an average price target of $2.20.

TELA Bio Trading Down 6.8%

Shares of TELA stock opened at $0.68 on Friday. The company has a market capitalization of $30.55 million, a P/E ratio of -0.82 and a beta of 0.99. The company has a current ratio of 4.20, a quick ratio of 3.59 and a debt-to-equity ratio of 8.82. TELA Bio has a twelve month low of $0.50 and a twelve month high of $2.20. The business’s 50 day moving average is $0.74 and its two-hundred day moving average is $1.03.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Tuesday, March 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. TELA Bio had a negative return on equity of 433.58% and a negative net margin of 48.37%.The firm had revenue of $20.87 million during the quarter, compared to the consensus estimate of $21.04 million. Equities analysts forecast that TELA Bio will post -1.37 EPS for the current year.

Institutional Investors Weigh In On TELA Bio

Institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC grew its position in TELA Bio by 161.3% during the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after acquiring an additional 21,781 shares during the period. XTX Topco Ltd purchased a new stake in TELA Bio during the fourth quarter valued at about $48,000. Susquehanna International Group LLP grew its position in TELA Bio by 551.2% during the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock valued at $128,000 after acquiring an additional 72,594 shares during the period. HBK Sorce Advisory LLC purchased a new stake in TELA Bio during the third quarter valued at about $154,000. Finally, GSA Capital Partners LLP grew its position in 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 acquiring an additional 54,613 shares during the period. Hedge funds and other institutional investors own 94.35% of the company’s stock.

TELA Bio Company Profile

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.