TELA Bio, Inc. (NASDAQ:TELA) Sees Large Increase in Short Interest

TELA Bio, Inc. (NASDAQ:TELA) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 1,130,000 shares, an increase of 22.0% from the April 15th total of 926,000 shares. Based on an average trading volume of 149,700 shares, the short-interest ratio is presently 7.5 days.

TELA Bio Stock Up 0.5 %

Shares of NASDAQ:TELA traded up $0.03 during mid-day trading on Monday, hitting $5.80. 113,438 shares of the company traded hands, compared to its average volume of 147,109. The firm has a market cap of $142.97 million, a P/E ratio of -3.50 and a beta of 1.00. TELA Bio has a 52-week low of $4.23 and a 52-week high of $11.26. The firm’s 50 day simple moving average is $5.21 and its 200 day simple moving average is $5.87. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.45 and a current ratio of 4.23.

TELA Bio (NASDAQ:TELA) last posted its earnings results on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, topping 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 135.17%. The business had revenue of $16.60 million for the quarter, compared to analysts’ expectations of $15.90 million. During the same period in the previous year, the company posted ($0.63) earnings per share. On average, equities analysts anticipate that TELA Bio will post -1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

TELA has been the topic of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 price objective on shares of TELA Bio in a research note on Friday, March 22nd. Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (down from $12.00) on shares of TELA Bio in a research note on Friday.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TELA. Jacob Asset Management of New York LLC boosted its stake in shares of TELA Bio by 2.6% during the 3rd quarter. Jacob Asset Management of New York LLC now owns 159,775 shares of the company’s stock valued at $1,278,000 after buying an additional 4,000 shares during the last quarter. Silverarc Capital Management LLC raised its stake in shares of TELA Bio by 17.8% in the 3rd quarter. Silverarc Capital Management LLC now owns 490,471 shares of the company’s stock valued at $3,924,000 after purchasing an additional 74,031 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new position in shares of TELA Bio during the third quarter worth about $1,756,000. Stonepine Capital Management LLC grew its stake in TELA Bio by 1.9% in the third quarter. Stonepine Capital Management LLC now owns 491,919 shares of the company’s stock worth $3,935,000 after purchasing an additional 9,300 shares in the last quarter. Finally, Pentwater Capital Management LP raised its stake in TELA Bio by 5.3% during the third quarter. Pentwater Capital Management LP now owns 925,000 shares of the company’s stock valued at $7,400,000 after buying an additional 46,201 shares in the last quarter. Institutional investors and hedge funds 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.