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

TELA Bio, Inc. (NASDAQ:TELA) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,940,000 shares, an increase of 102.9% from the June 30th total of 956,000 shares. Based on an average trading volume of 221,100 shares, the short-interest ratio is currently 8.8 days.

Insider Buying and Selling

In related news, major shareholder Orbimed Advisors Llc sold 13,700 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.68, for a total transaction of $64,116.00. Following the sale, the insider now directly owns 2,443,842 shares in the company, valued at $11,437,180.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TELA. Trexquant Investment LP bought a new position in shares of TELA Bio in the 4th quarter valued at about $109,000. Russell Investments Group Ltd. boosted its holdings in shares of TELA Bio by 107.6% during the 1st quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock worth $538,000 after buying an additional 49,204 shares during the period. HighMark Wealth Management LLC bought a new stake in shares of TELA Bio during the 1st quarter worth about $1,099,000. Perkins Capital Management Inc. boosted its holdings in shares of TELA Bio by 10.4% during the 4th quarter. Perkins Capital Management Inc. now owns 210,250 shares of the company’s stock worth $1,392,000 after buying an additional 19,750 shares during the period. Finally, Worth Venture Partners LLC boosted its holdings in shares of TELA Bio by 9.9% during the 4th quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock worth $2,286,000 after buying an additional 31,111 shares during the period. Institutional investors own 94.35% of the company’s stock.

TELA Bio Stock Up 2.2 %

TELA Bio stock traded up $0.10 during mid-day trading on Friday, reaching $4.60. The company’s stock had a trading volume of 104,942 shares, compared to its average volume of 409,854. The business’s 50 day simple moving average is $5.15 and its 200 day simple moving average is $5.70. TELA Bio has a 12 month low of $4.03 and a 12 month high of $10.22. The company has a quick ratio of 3.23, a current ratio of 4.13 and a debt-to-equity ratio of 2.83.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. TELA Bio had a negative net margin of 63.82% and a negative return on equity of 155.26%. The company had revenue of $16.60 million during the quarter, compared to the consensus estimate of $15.90 million. During the same quarter last year, the firm posted ($0.63) EPS. Equities analysts forecast that TELA Bio will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TELA has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price (down previously from $12.00) on shares of TELA Bio in a research report on Friday, May 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 target price on shares of TELA Bio in a research report on Thursday.

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.