TELA Bio, Inc. (NASDAQ:TELA) Sees Large Growth in Short Interest

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. WealthTrust Axiom LLC acquired a new stake in TELA Bio during the second quarter worth about $40,000. Citadel Advisors LLC raised its holdings in TELA Bio by 161.3% in the 3rd 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 in the last quarter. XTX Topco Ltd bought a new stake in shares of TELA Bio in the 4th quarter worth approximately $48,000. Susquehanna International Group LLP lifted its position in shares of TELA Bio by 551.2% in the 3rd quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after acquiring an additional 72,594 shares during the period. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of TELA Bio during the 3rd quarter worth approximately $154,000. Institutional investors and hedge funds own 94.35% of the company’s stock.

TELA Bio Trading Up 0.6%

Shares of TELA Bio stock opened at $0.84 on Thursday. TELA Bio has a 1 year low of $0.67 and a 1 year high of $2.52. The company’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $1.24. The company has a market cap of $33.86 million, a price-to-earnings ratio of -0.94 and a beta of 0.88. The company has a current ratio of 3.30, a quick ratio of 2.62 and a debt-to-equity ratio of 26.65.

Wall Street Analyst Weigh In

Several equities analysts have commented on TELA shares. Canaccord Genuity Group lowered their target price on shares of 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 TELA Bio in a research note on Monday, December 1st. Citizens Jmp lowered their price objective on TELA Bio from $7.00 to $5.00 and set a “market outperform” rating on the stock in a report on Friday, November 14th. Piper Sandler restated a “neutral” rating and issued a $1.25 target price (down from $2.00) on shares of TELA Bio in a report on Friday, November 14th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of TELA Bio in a research report on Monday, December 1st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.25.

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.