TELA Bio, Inc. (NASDAQ:TELA – Get Rating) was the target of a large increase in short interest in December. As of December 30th, there was short interest totalling 563,300 shares, an increase of 22.6% from the December 15th total of 459,300 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily volume of 38,100 shares, the days-to-cover ratio is presently 14.8 days.
TELA Bio Trading Up 5.0 %
Shares of NASDAQ:TELA traded up $0.57 during trading on Friday, reaching $12.00. The stock had a trading volume of 34,075 shares, compared to its average volume of 27,606. The firm’s fifty day moving average is $10.10 and its 200 day moving average is $8.95. The company has a debt-to-equity ratio of 1.71, a quick ratio of 4.06 and a current ratio of 4.86. TELA Bio has a 52 week low of $5.15 and a 52 week high of $13.37. The stock has a market cap of $229.91 million, a price-to-earnings ratio of -4.20 and a beta of 0.98.
TELA Bio (NASDAQ:TELA – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). TELA Bio had a negative net margin of 112.49% and a negative return on equity of 321.48%. The firm had revenue of $11.16 million during the quarter, compared to the consensus estimate of $10.65 million. As a group, equities analysts forecast that TELA Bio will post -2.74 EPS for the current fiscal year.
Wall Street Analyst Weigh In
TELA has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of TELA Bio from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 10th. JMP Securities reduced their target price on shares of TELA Bio from $22.00 to $20.00 and set a “market outperform” rating on the stock in a report on Thursday, November 10th.
Insider Buying and Selling
In related news, major shareholder Opaleye Management Inc. acquired 20,262 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was acquired at an average cost of $7.81 per share, for a total transaction of $158,246.22. Following the transaction, the insider now directly owns 1,948,000 shares in the company, valued at $15,213,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parkman Healthcare Partners LLC boosted its stake in TELA Bio by 1.2% during the third quarter. Parkman Healthcare Partners LLC now owns 110,280 shares of the company’s stock worth $940,000 after acquiring an additional 1,296 shares in the last quarter. State Street Corp raised its holdings in TELA Bio by 9.1% during the first quarter. State Street Corp now owns 26,065 shares of the company’s stock worth $303,000 after buying an additional 2,167 shares during the last quarter. BlackRock Inc. raised its holdings in TELA Bio by 17.6% during the third quarter. BlackRock Inc. now owns 17,203 shares of the company’s stock worth $146,000 after buying an additional 2,578 shares during the last quarter. Renaissance Technologies LLC acquired a new position in TELA Bio during the second quarter worth $83,000. Finally, Spouting Rock Asset Management LLC acquired a new position in TELA Bio during the third quarter worth $133,000.
TELA Bio Company Profile
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. It 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.