TELA Bio, Inc. (NASDAQ:TELA) Short Interest Down 29.8% in November

TELA Bio, Inc. (NASDAQ:TELA) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 335,900 shares, a decrease of 29.8% from the October 31st total of 478,700 shares. Based on an average trading volume of 223,100 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TELA shares. JMP Securities decreased their price objective on shares of TELA Bio from $15.00 to $12.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $12.00 price objective on shares of TELA Bio in a research report on Friday, October 4th. Lake Street Capital decreased 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 report on Tuesday, August 13th. Finally, Piper Sandler cut their target price on shares of TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a research note on Friday, November 8th.

TELA Bio Stock Performance

TELA Bio stock traded up $0.11 during midday trading on Friday, hitting $3.14. The company’s stock had a trading volume of 74,993 shares, compared to its average volume of 193,925. The company has a 50-day moving average price of $2.75 and a two-hundred day moving average price of $3.81. The company has a market cap of $123.68 million, a price-to-earnings ratio of -1.86 and a beta of 0.97. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. TELA Bio has a 1-year low of $2.30 and a 1-year high of $7.84.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.05). The firm had revenue of $18.96 million during the quarter, compared to analyst estimates of $19.10 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. As a group, sell-side analysts predict that TELA Bio will post -1.37 earnings per share for the current year.

Insider Transactions at TELA Bio

In other TELA Bio news, CTO Paul Talmo bought 22,222 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $2.25 per share, with a total value of $49,999.50. Following the completion of the transaction, the chief technology officer now owns 91,082 shares in the company, valued at approximately $204,934.50. This trade represents a 32.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Antony Koblish bought 88,888 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $2.25 per share, with a total value of $199,998.00. Following the transaction, the chief executive officer now owns 458,897 shares of the company’s stock, valued at $1,032,518.25. This represents a 24.02 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 182,220 shares of company stock valued at $409,995 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On TELA Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of TELA Bio during the 2nd quarter valued at approximately $25,000. Embree Financial Group bought a new stake in TELA Bio during the 3rd quarter worth approximately $25,000. Ground Swell Capital LLC bought a new stake in TELA Bio during the 2nd quarter worth approximately $53,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in TELA Bio during the 2nd quarter worth approximately $115,000. Finally, Los Angeles Capital Management LLC bought a new stake in TELA Bio during the 2nd quarter worth approximately $131,000. 94.35% of the stock is owned by institutional investors.

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.