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

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

Analysts Set New Price Targets

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

TELA Bio Price Performance

Shares of TELA opened at $2.61 on Friday. TELA Bio has a 52-week low of $2.30 and a 52-week high of $7.45. The business has a fifty day moving average of $2.78 and a 200 day moving average of $2.88. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62.

Institutional Investors Weigh In On TELA Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Silverarc Capital Management LLC increased its position in shares of TELA Bio by 172.5% during the fourth quarter. Silverarc Capital Management LLC now owns 3,065,649 shares of the company’s stock worth $9,258,000 after purchasing an additional 1,940,721 shares in the last quarter. Royce & Associates LP purchased a new stake in TELA Bio during the 4th quarter worth about $3,020,000. Perkins Capital Management Inc. increased its holdings in shares of TELA Bio by 303.1% in the 4th quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock valued at $2,742,000 after acquiring an additional 682,665 shares during the last quarter. Pentwater Capital Management LP grew its stake in TELA Bio by 100.0% during the 4th quarter. Pentwater Capital Management LP now owns 1,000,000 shares of the company’s stock worth $3,020,000 after buying an additional 500,000 shares during the last quarter. Finally, Stonepine Capital Management LLC grew its stake in TELA Bio by 77.4% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,110,000 shares of the company’s stock worth $2,808,000 after buying an additional 484,355 shares during 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.