TELA Bio, Inc. (NASDAQ:TELA) Sees Significant Drop in Short Interest

TELA Bio, Inc. (NASDAQ:TELA) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 467,800 shares, a decrease of 15.9% from the February 13th total of 556,500 shares. Based on an average daily volume of 171,100 shares, the short-interest ratio is currently 2.7 days. Approximately 1.3% of the company’s shares are short sold.

TELA Bio Price Performance

TELA Bio stock opened at $2.35 on Wednesday. The firm’s 50-day moving average is $2.61 and its two-hundred day moving average is $2.72. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. The stock has a market capitalization of $92.56 million, a P/E ratio of -1.39 and a beta of 1.10. TELA Bio has a 12-month low of $2.18 and a 12-month high of $6.50.

Hedge Funds Weigh In On TELA Bio

Several institutional investors and hedge funds have recently modified their holdings of the company. Stonepine Capital Management LLC lifted its stake in shares of TELA Bio by 112.0% during the fourth quarter. Stonepine Capital Management LLC now owns 2,353,099 shares of the company’s stock valued at $7,106,000 after buying an additional 1,243,099 shares during the period. Mink Brook Asset Management LLC purchased a new position in shares of TELA Bio during the fourth quarter valued at approximately $1,078,000. DAFNA Capital Management LLC purchased a new position in shares of TELA Bio during the fourth quarter valued at approximately $4,352,000. Cubist Systematic Strategies LLC lifted its stake in shares of TELA Bio by 95.3% during the fourth 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 during the period. Finally, Jane Street Group LLC lifted its stake in shares of TELA Bio by 30.5% during the fourth 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 during the period. Hedge funds and other institutional investors 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.