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

TELA Bio, Inc. (NASDAQ:TELA) was the target 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 short-interest ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped 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 Up 0.4 %

Shares of TELA opened at $2.61 on Friday. TELA Bio has a twelve month low of $2.30 and a twelve month high of $7.45. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22. The business’s 50-day moving average price is $2.78 and its 200-day moving average price is $2.88.

Hedge Funds Weigh In On TELA Bio

Several institutional investors and hedge funds have recently modified their holdings of TELA. Embree Financial Group bought a new stake in TELA Bio during the 3rd quarter valued at approximately $25,000. Prudential Financial Inc. acquired a new position in shares of TELA Bio in the fourth quarter valued at about $57,000. Commonwealth Equity Services LLC boosted its stake in shares of TELA Bio by 91.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock worth $86,000 after buying an additional 13,555 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of TELA Bio in the fourth quarter valued at approximately $91,000. Finally, Jane Street Group LLC lifted its position in shares of TELA Bio by 30.5% in the fourth quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock valued at $93,000 after acquiring an additional 7,174 shares in the last quarter. 94.35% of the stock is currently owned by institutional investors.

TELA Bio Company Profile

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.