Short Interest in TELA Bio, Inc. (NASDAQ:TELA) Decreases By 59.5%

TELA Bio, Inc. (NASDAQ:TELA – Get Free Report) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 302,880 shares, a drop of 59.5% from the May 31st total of 748,090 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 114,154 shares, the short-interest ratio is presently 2.7 days.

TELA Bio Trading Up 2.7%

TELA stock traded up $0.02 during midday trading on Tuesday, reaching $0.75. 47,887 shares of the company traded hands, compared to its average volume of 179,664. TELA Bio has a 52-week low of $0.50 and a 52-week high of $2.20. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.92 and a current ratio of 3.61. The business has a 50 day moving average of $0.86 and a 200-day moving average of $0.88. The firm has a market capitalization of $33.57 million, a price-to-earnings ratio of -0.95 and a beta of 1.33.

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TELA Bio (NASDAQ:TELA – Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $19.06 million during the quarter, compared to analysts’ expectations of $18.60 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 49.30%. As a group, sell-side analysts expect that TELA Bio will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TELA shares. Canaccord Genuity Group decreased their target price on TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Piper Sandler reduced their price objective 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. Citizens Jmp decreased their price objective on TELA Bio from $5.00 to $3.00 and set a “market outperform” rating on the stock in a report on Friday, March 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research report on Tuesday, April 21st. Finally, Lake Street Capital reduced their price target on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.20.

View Our Latest Research Report on TELA Bio

Institutional Investors Weigh In On TELA Bio

Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of TELA Bio during the 4th quarter worth about $48,000. Citadel Advisors LLC raised its position in TELA Bio by 161.3% in the 3rd quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after purchasing an additional 21,781 shares during the period. Susquehanna International Group LLP lifted its stake in TELA Bio by 551.2% in the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after purchasing an additional 72,594 shares during the last quarter. Embree Financial Group boosted its position in shares of TELA Bio by 695.1% during the fourth quarter. Embree Financial Group now owns 111,318 shares of the company’s stock valued at $131,000 after buying an additional 97,318 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of TELA Bio by 101.4% during the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after buying an additional 64,800 shares during the period. Institutional investors own 94.35% of the company’s stock.

About TELA Bio

(Get Free Report)

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.

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