Short Interest in TELA Bio, Inc. (NASDAQ:TELA) Declines By 15.9%

TELA Bio, Inc. (NASDAQ:TELA) saw a significant drop in short interest during 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. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 171,100 shares, the days-to-cover ratio is currently 2.7 days.

TELA Bio Stock Down 1.6 %

Shares of TELA opened at $2.39 on Tuesday. The company has a market cap of $94.14 million, a PE ratio of -1.41 and a beta of 1.10. The business has a fifty day moving average of $2.62 and a 200 day moving average of $2.72. TELA Bio has a 52-week low of $2.18 and a 52-week high of $6.50. The company has a quick ratio of 1.81, a current ratio of 2.62 and a debt-to-equity ratio of 14.22.

Institutional Trading of TELA Bio

A number of institutional investors have recently bought and sold shares of TELA. Silverarc Capital Management LLC lifted its position in TELA Bio by 172.5% in the fourth quarter. Silverarc Capital Management LLC now owns 3,065,649 shares of the company’s stock worth $9,258,000 after buying an additional 1,940,721 shares during the last quarter. DAFNA Capital Management LLC bought a new stake in TELA Bio in the fourth quarter worth $4,352,000. Stonepine Capital Management LLC lifted its position in TELA Bio by 112.0% in the fourth quarter. Stonepine Capital Management LLC now owns 2,353,099 shares of the company’s stock worth $7,106,000 after buying an additional 1,243,099 shares during the last quarter. Royce & Associates LP bought a new stake in TELA Bio in the fourth quarter worth $3,020,000. Finally, Perkins Capital Management Inc. increased its stake in TELA Bio by 303.1% in the fourth quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock worth $2,742,000 after purchasing an additional 682,665 shares during the period. 94.35% of the stock is currently 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.