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

TELA Bio, Inc. (NASDAQ:TELA) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 335,900 shares, a decrease of 29.8% from the October 31st total of 478,700 shares. Based on an average daily trading volume, of 223,100 shares, the days-to-cover ratio is presently 1.5 days.

TELA Bio Stock Performance

Shares of NASDAQ TELA opened at $3.14 on Friday. The business’s fifty day moving average price is $2.75 and its 200-day moving average price is $3.79. TELA Bio has a one year low of $2.30 and a one year high of $7.84. The company has a quick ratio of 1.81, a current ratio of 2.62 and a debt-to-equity ratio of 14.22.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. The business had revenue of $18.96 million for the quarter, compared to the consensus estimate of $19.10 million. During the same quarter in the prior year, the business earned ($0.45) EPS. On average, research analysts anticipate that TELA Bio will post -1.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TELA shares. JMP Securities cut their price objective on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 13th. Lake Street Capital reduced their price target on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Piper Sandler decreased their price objective on shares of TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $12.00 target price on shares of TELA Bio in a research note on Friday, October 4th.

Insider Activity at TELA Bio

In other news, CEO Antony Koblish bought 88,888 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $2.25 per share, with a total value of $199,998.00. Following the transaction, the chief executive officer now directly owns 458,897 shares in the company, valued at $1,032,518.25. This represents a 24.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Roberto Cuca bought 64,444 shares of TELA Bio stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $2.25 per share, with a total value of $144,999.00. Following the completion of the acquisition, the chief financial officer now owns 155,388 shares of the company’s stock, valued at $349,623. This represents a 70.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 182,220 shares of company stock valued at $409,995. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TELA Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new position in shares of TELA Bio in the second quarter worth $25,000. Vanguard Group Inc. boosted its stake in TELA Bio by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock worth $5,704,000 after purchasing an additional 7,199 shares during the period. Embree Financial Group purchased a new position in TELA Bio during the 3rd quarter valued at about $25,000. Ground Swell Capital LLC bought a new stake in shares of TELA Bio during the second quarter valued at about $53,000. Finally, Perkins Capital Management Inc. lifted its holdings in shares of TELA Bio by 10.2% in the third quarter. Perkins Capital Management Inc. now owns 225,200 shares of the company’s stock worth $570,000 after buying an additional 20,850 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

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.