TriSalus Life Sciences, Inc. (NASDAQ:TLSI) Sees Large Increase in Short Interest

TriSalus Life Sciences, Inc. (NASDAQ:TLSI) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 128,000 shares, a growth of 75.3% from the January 31st total of 73,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average trading volume of 41,000 shares, the short-interest ratio is presently 3.1 days.

TriSalus Life Sciences Stock Performance

TLSI stock traded up $0.09 during midday trading on Friday, reaching $5.76. 54,080 shares of the company traded hands, compared to its average volume of 33,741. TriSalus Life Sciences has a 52-week low of $3.50 and a 52-week high of $10.42. The business has a 50 day moving average of $5.19 and a 200-day moving average of $4.73. The firm has a market capitalization of $175.64 million, a price-to-earnings ratio of -2.31 and a beta of 0.51.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Lake Street Capital assumed coverage on TriSalus Life Sciences in a research note on Thursday, February 13th. They issued a “buy” rating and a $10.00 price objective for the company. Canaccord Genuity Group dropped their price objective on TriSalus Life Sciences from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Roth Capital upgraded TriSalus Life Sciences to a “strong-buy” rating in a research report on Monday, November 11th. Roth Mkm reiterated a “buy” rating and issued a $11.00 target price on shares of TriSalus Life Sciences in a research report on Friday, January 24th. Finally, Cantor Fitzgerald initiated coverage on TriSalus Life Sciences in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $10.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $11.56.

Insider Buying and Selling

In other TriSalus Life Sciences news, major shareholder Equity Ab Frankenius acquired 62,972 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $3.97 per share, with a total value of $249,998.84. Following the completion of the purchase, the insider now directly owns 6,230,748 shares in the company, valued at approximately $24,736,069.56. The trade was a 1.02 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary T. Szela acquired 4,826 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was acquired at an average cost of $5.42 per share, with a total value of $26,156.92. Following the purchase, the chief executive officer now owns 429,503 shares of the company’s stock, valued at approximately $2,327,906.26. This trade represents a 1.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 117,828 shares of company stock valued at $544,607 over the last 90 days. Company insiders own 32.80% of the company’s stock.

Institutional Investors Weigh In On TriSalus Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TLSI. Walleye Capital LLC purchased a new stake in shares of TriSalus Life Sciences in the third quarter worth approximately $66,000. Renaissance Technologies LLC purchased a new stake in shares of TriSalus Life Sciences in the fourth quarter worth approximately $67,000. Virtu Financial LLC purchased a new stake in shares of TriSalus Life Sciences in the third quarter worth approximately $92,000. Vestcor Inc purchased a new stake in shares of TriSalus Life Sciences in the third quarter worth approximately $108,000. Finally, Connective Capital Management LLC purchased a new stake in shares of TriSalus Life Sciences in the fourth quarter worth approximately $140,000. 2.58% of the stock is currently owned by hedge funds and other institutional investors.

About TriSalus Life Sciences

TriSalus Life Sciences, Inc, a medical technology company, researches, develops, and sells drug delivery technologies and immune-oncology therapeutics for the treatment of liver and pancreatic cancer. The company offers Pressure Enabled Drug Delivery infusion systems, such as the TriNav infusion system, which is used in transarterial radioembolization and chemoembolization procedures for patients with liver cancer and metastases; and the Pancreatic Retrograde Venous Infusion device, which is in Phase 1 clinical trial, for locally advanced pancreatic cancer.