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

TELA Bio, Inc. (NASDAQ:TELA) was the recipient of a significant drop in short interest in 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. Based on an average trading volume of 171,100 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.3% of the shares of the stock are short sold.

TELA Bio Trading Down 1.6 %

TELA stock opened at $2.39 on Tuesday. The company has a market capitalization of $94.14 million, a PE ratio of -1.41 and a beta of 1.10. TELA Bio has a one year low of $2.18 and a one year high of $6.50. The company’s 50 day moving average price is $2.62 and its two-hundred day moving average price is $2.72. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TELA. Silverarc Capital Management LLC increased its stake in shares of 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 period. DAFNA Capital Management LLC purchased a new position in shares of TELA Bio in the fourth quarter worth $4,352,000. Stonepine Capital Management LLC increased its stake in shares of 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 period. Royce & Associates LP purchased a new position in shares of TELA Bio in the fourth quarter worth $3,020,000. Finally, Perkins Capital Management Inc. increased its position in TELA Bio by 303.1% during the 4th quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock valued at $2,742,000 after purchasing an additional 682,665 shares during the period. 94.35% of the stock is owned by hedge funds and other 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.