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

TELA Bio, Inc. (NASDAQ:TELA) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 414,300 shares, a growth of 17.8% from the January 15th total of 351,600 shares. Based on an average daily trading volume, of 186,200 shares, the short-interest ratio is presently 2.2 days.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on shares of TELA Bio from $8.00 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in TELA Bio by 30.5% in the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock valued at $93,000 after purchasing an additional 7,174 shares during the last quarter. Pentwater Capital Management LP raised its stake in TELA Bio by 100.0% in the 4th quarter. Pentwater Capital Management LP now owns 1,000,000 shares of the company’s stock valued at $3,020,000 after purchasing an additional 500,000 shares during the last quarter. Northern Trust Corp raised its stake in TELA Bio by 50.6% in the 4th quarter. Northern Trust Corp now owns 47,181 shares of the company’s stock valued at $142,000 after purchasing an additional 15,856 shares during the last quarter. Birchview Capital LP acquired a new position in TELA Bio in the 4th quarter valued at about $378,000. Finally, UP Strategic Wealth Investment Advisors LLC raised its stake in TELA Bio by 808.1% in the 4th quarter. UP Strategic Wealth Investment Advisors LLC now owns 99,888 shares of the company’s stock valued at $302,000 after purchasing an additional 88,888 shares during the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

TELA Bio Price Performance

TELA Bio stock opened at $2.61 on Monday. The firm’s 50-day simple moving average is $2.78 and its 200 day simple moving average is $2.87. TELA Bio has a 52 week low of $2.30 and a 52 week high of $7.45. The firm has a market capitalization of $102.80 million, a PE ratio of -1.54 and a beta of 1.00. The company has a quick ratio of 1.81, a current ratio of 2.62 and a debt-to-equity ratio of 14.22.

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.