TriSalus Life Sciences, Inc. (NASDAQ:TLSI) Sees Large Increase in Short Interest

TriSalus Life Sciences, Inc. (NASDAQ:TLSI) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 57,600 shares, an increase of 22.8% from the November 30th total of 46,900 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 35,900 shares, the days-to-cover ratio is currently 1.6 days.

Insider Buying and Selling at TriSalus Life Sciences

In other news, major shareholder Equity Ab Frankenius purchased 62,972 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $3.97 per share, with a total value of $249,998.84. Following the purchase, the insider now directly owns 6,230,748 shares of the company’s stock, valued at $24,736,069.56. This trade represents a 1.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 70,012 shares of company stock valued at $281,235. 32.80% of the stock is currently owned by insiders.

Institutional Trading of TriSalus Life Sciences

A number of hedge funds have recently modified their holdings of the stock. Highbridge Capital Management LLC acquired a new position in TriSalus Life Sciences in the 2nd quarter valued at about $1,184,000. Duquesne Family Office LLC boosted its holdings in shares of TriSalus Life Sciences by 35.1% during the second quarter. Duquesne Family Office LLC now owns 426,921 shares of the company’s stock worth $2,357,000 after acquiring an additional 110,966 shares during the period. Geode Capital Management LLC grew its position in shares of TriSalus Life Sciences by 45.4% in the third quarter. Geode Capital Management LLC now owns 200,427 shares of the company’s stock valued at $924,000 after purchasing an additional 62,542 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of TriSalus Life Sciences during the second quarter worth approximately $240,000. Finally, MSD Partners L.P. bought a new position in shares of TriSalus Life Sciences during the third quarter worth approximately $184,000. Institutional investors and hedge funds own 2.58% of the company’s stock.

TriSalus Life Sciences Stock Performance

TLSI traded down $0.15 during trading hours on Friday, reaching $4.84. The company’s stock had a trading volume of 57,126 shares, compared to its average volume of 39,959. The company’s 50-day moving average is $4.17 and its 200-day moving average is $4.86. TriSalus Life Sciences has a 52 week low of $3.50 and a 52 week high of $10.42. The firm has a market cap of $147.59 million, a PE ratio of -1.94 and a beta of 0.56.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TLSI shares. Cantor Fitzgerald started coverage on shares of TriSalus Life Sciences in a research note on Tuesday, December 17th. They set an “overweight” rating and a $10.00 price target for the company. Roth Mkm initiated coverage on TriSalus Life Sciences in a report on Monday, November 11th. They issued a “buy” rating and a $11.00 price objective for the company. Northland Capmk upgraded TriSalus Life Sciences to a “strong-buy” rating in a research note on Friday, October 25th. Canaccord Genuity Group cut their price objective on TriSalus Life Sciences from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, Roth Capital upgraded shares of TriSalus Life Sciences to a “strong-buy” rating in a report on Monday, November 11th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $11.79.

About TriSalus Life Sciences

TriSalus Life Sciences, Inc, a medical technology company, researches, develops, and sells drug delivery technologies and immune-oncology therapeutics for the treatment of liver and pancreatic cancer. The company offers Pressure Enabled Drug Delivery infusion systems, such as the TriNav infusion system, which is used in transarterial radioembolization and chemoembolization procedures for patients with liver cancer and metastases; and the Pancreatic Retrograde Venous Infusion device, which is in Phase 1 clinical trial, for locally advanced pancreatic cancer.