TELA Bio, Inc. (NASDAQ:TELA) Short Interest Down 15.9% in February

TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 467,800 shares, a drop of 15.9% from the February 13th total of 556,500 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 171,100 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Trading of TELA Bio

Large investors have recently modified their holdings of the business. Prudential Financial Inc. bought a new stake in shares of TELA Bio during the 4th quarter valued at about $57,000. Commonwealth Equity Services LLC raised its holdings in shares of TELA Bio by 91.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company's stock valued at $86,000 after buying an additional 13,555 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of TELA Bio during the 4th quarter valued at about $91,000. Jane Street Group LLC raised its holdings in shares of TELA Bio by 30.5% during the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company's stock valued at $93,000 after buying an additional 7,174 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of TELA Bio by 95.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company's stock valued at $95,000 after buying an additional 15,283 shares in the last quarter. Institutional investors own 94.35% of the company's stock.

TELA Bio Price Performance

Shares of TELA traded down $0.87 during trading hours on Friday, reaching $1.47. 2,925,397 shares of the company's stock traded hands, compared to its average volume of 210,384. The stock has a market cap of $57.90 million, a PE ratio of -0.87 and a beta of 1.10. 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 firm's 50 day simple moving average is $2.56 and its 200-day simple moving average is $2.70. TELA Bio has a 12 month low of $1.28 and a 12 month high of $6.50.

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TELA Bio (NASDAQ:TELA - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.01. The firm had revenue of $17.65 million during the quarter, compared to the consensus estimate of $23.17 million. TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. Equities analysts expect that TELA Bio will post -1.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on TELA shares. Piper Sandler downgraded TELA Bio from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $5.00 to $2.00 in a research note on Friday. Canaccord Genuity Group cut their target price on TELA Bio from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Friday.

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.