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

TELA Bio, Inc. (NASDAQ:TELA) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 478,700 shares, a decrease of 68.9% from the October 15th total of 1,540,000 shares. Based on an average daily volume of 258,700 shares, the short-interest ratio is currently 1.9 days.

TELA Bio Trading Up 3.7 %

TELA traded up $0.11 during trading on Tuesday, hitting $3.05. 29,628 shares of the stock traded hands, compared to its average volume of 195,446. The firm has a market capitalization of $75.38 million, a P/E ratio of -1.74 and a beta of 0.97. The firm has a 50-day moving average of $2.65 and a 200 day moving average of $3.97. The company has a debt-to-equity ratio of 14.22, a current ratio of 3.41 and a quick ratio of 2.52. TELA Bio has a 12-month low of $2.30 and a 12-month high of $7.84.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). The business had revenue of $18.96 million for the quarter, compared to the consensus estimate of $19.10 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 344.73%. During the same period in the previous year, the company earned ($0.45) EPS. Equities research analysts anticipate that TELA Bio will post -1.39 EPS for the current year.

Insider Activity at TELA Bio

In other news, CTO Paul Talmo acquired 22,222 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $2.25 per share, with a total value of $49,999.50. Following the acquisition, the chief technology officer now owns 91,082 shares in the company, valued at $204,934.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Antony Koblish purchased 88,888 shares of TELA Bio stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $199,998.00. Following the completion of the transaction, the chief executive officer now owns 458,897 shares in the company, valued at $1,032,518.25. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Paul Talmo acquired 22,222 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $49,999.50. Following the acquisition, the chief technology officer now directly owns 91,082 shares in the company, valued at $204,934.50. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 182,220 shares of company stock worth $409,995. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TELA. Point72 DIFC Ltd purchased a new stake in shares of TELA Bio in the 2nd quarter worth about $25,000. Embree Financial Group purchased a new stake in TELA Bio in the third quarter worth about $25,000. Ground Swell Capital LLC bought a new stake in TELA Bio during the 2nd quarter valued at approximately $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TELA Bio during the 2nd quarter worth approximately $115,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of TELA Bio in the 2nd quarter valued at approximately $131,000. 94.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TELA. Lake Street Capital reduced their price objective on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Piper Sandler dropped their price target on TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday. JMP Securities lowered their target price on shares of TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $12.00 price target on shares of TELA Bio in a research note on Friday, October 4th.

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.