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

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on TELA shares. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price (down previously from $12.00) on shares of TELA Bio in a research note on Friday, May 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 target price on shares of TELA Bio in a research note on Thursday.

Insider Buying and Selling

In related news, major shareholder Orbimed Advisors Llc sold 378,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $4.74, for a total transaction of $1,791,720.00. Following the completion of the sale, the insider now owns 2,457,542 shares in the company, valued at $11,648,749.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TELA Bio

Several hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC lifted its position in TELA Bio by 7.8% during the first quarter. First Light Asset Management LLC now owns 2,754,028 shares of the company’s stock valued at $15,615,000 after purchasing an additional 199,387 shares during the last quarter. AIGH Capital Management LLC lifted its position in TELA Bio by 10.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company’s stock valued at $9,122,000 after purchasing an additional 125,000 shares during the last quarter. Vanguard Group Inc. lifted its position in TELA Bio by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock valued at $5,704,000 after purchasing an additional 7,199 shares during the last quarter. Worth Venture Partners LLC lifted its position in TELA Bio by 9.9% during the fourth quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock valued at $2,286,000 after purchasing an additional 31,111 shares during the last quarter. Finally, Perkins Capital Management Inc. lifted its position in TELA Bio by 10.4% during the fourth quarter. Perkins Capital Management Inc. now owns 210,250 shares of the company’s stock valued at $1,392,000 after purchasing an additional 19,750 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

TELA Bio Price Performance

NASDAQ:TELA traded up $0.10 during mid-day trading on Friday, hitting $4.60. 104,942 shares of the stock traded hands, compared to its average volume of 409,854. The business’s 50-day moving average price is $5.15 and its 200 day moving average price 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 debt-to-equity ratio of 2.83, a current ratio of 4.13 and a quick ratio of 3.23.

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

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.