TELA Bio, Inc. (NASDAQ:TELA) Sees Significant Drop in Short Interest

TELA Bio, Inc. (NASDAQ:TELA) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 467,800 shares, a decrease of 15.9% from the February 13th total of 556,500 shares. Based on an average trading volume of 171,100 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On TELA Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP increased its holdings in TELA Bio by 398.8% during the 3rd quarter. GSA Capital Partners LLP now owns 112,205 shares of the company’s stock valued at $284,000 after acquiring an additional 89,712 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of TELA Bio in the third quarter valued at approximately $362,000. Stonepine Capital Management LLC increased its stake in shares of TELA Bio by 77.4% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,110,000 shares of the company’s stock worth $2,808,000 after purchasing an additional 484,355 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of TELA Bio by 91.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock worth $86,000 after purchasing an additional 13,555 shares during the last quarter. Finally, Royce & Associates LP purchased a new stake in TELA Bio in the 4th quarter valued at approximately $3,020,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

TELA Bio Trading Down 3.3 %

NASDAQ:TELA opened at $2.35 on Wednesday. The stock has a fifty day moving average price of $2.61 and a two-hundred day moving average price of $2.72. The stock has a market capitalization of $92.56 million, a price-to-earnings ratio of -1.39 and a beta of 1.10. 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 1 year low of $2.18 and a 1 year high of $6.50.

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.