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

TELA Bio, Inc. (NASDAQ:TELA) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 414,300 shares, a growth of 17.8% from the January 15th total of 351,600 shares. Based on an average trading volume of 186,200 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Embree Financial Group acquired a new position in TELA Bio during the third quarter worth approximately $25,000. Prudential Financial Inc. acquired a new position in TELA Bio during the fourth quarter worth approximately $57,000. Commonwealth Equity Services LLC increased its position in TELA Bio by 91.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock worth $86,000 after buying an additional 13,555 shares during the period. Walleye Capital LLC purchased a new position in shares of TELA Bio in the 4th quarter valued at approximately $91,000. Finally, Jane Street Group LLC grew its stake in shares of TELA Bio by 30.5% in the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock valued at $93,000 after purchasing an additional 7,174 shares during the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

TELA Bio Price Performance

Shares of NASDAQ TELA opened at $2.61 on Monday. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62. TELA Bio has a fifty-two week low of $2.30 and a fifty-two week high of $7.45. The firm has a market capitalization of $102.80 million, a PE ratio of -1.54 and a beta of 1.00. The stock’s 50-day simple moving average is $2.78 and its 200-day simple moving average is $2.87.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price on TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, November 8th.

About TELA Bio

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. 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.