Short Interest in TriSalus Life Sciences, Inc. (NASDAQ:TLSI) Drops By 70.0%

TriSalus Life Sciences, Inc. (NASDAQ:TLSI) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 32,700 shares, a decrease of 70.0% from the May 15th total of 109,000 shares. Based on an average daily volume of 48,800 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.2% of the company’s shares are short sold.

Insider Activity

In related news, insider Richard Marshak sold 6,597 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $5.18, for a total transaction of $34,172.46. Following the sale, the insider now owns 69,101 shares of the company’s stock, valued at approximately $357,943.18. This trade represents a 8.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 16,125 shares of company stock valued at $83,528 in the last 90 days. 27.50% of the stock is owned by company insiders.

Institutional Trading of TriSalus Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new stake in shares of TriSalus Life Sciences in the 1st quarter valued at about $55,000. Renaissance Technologies LLC acquired a new stake in shares of TriSalus Life Sciences in the 4th quarter valued at about $67,000. Connective Capital Management LLC acquired a new stake in shares of TriSalus Life Sciences in the 4th quarter valued at about $140,000. Northern Trust Corp grew its holdings in shares of TriSalus Life Sciences by 22.7% in the 4th quarter. Northern Trust Corp now owns 32,112 shares of the company’s stock valued at $161,000 after acquiring an additional 5,936 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of TriSalus Life Sciences in the 1st quarter valued at about $187,000. Institutional investors and hedge funds own 2.58% of the company’s stock.

TriSalus Life Sciences Price Performance

TLSI opened at $5.19 on Friday. The business’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.16. TriSalus Life Sciences has a 1 year low of $3.50 and a 1 year high of $6.18. The company has a market capitalization of $196.38 million, a price-to-earnings ratio of -2.08 and a beta of 0.47.

TriSalus Life Sciences (NASDAQ:TLSI) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.13). The business had revenue of $9.17 million during the quarter, compared to analysts’ expectations of $9.04 million. During the same quarter last year, the company earned ($0.60) earnings per share. Sell-side analysts anticipate that TriSalus Life Sciences will post -1.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 price objective on shares of TriSalus Life Sciences in a research note on Friday, March 28th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $10.75.

About TriSalus Life Sciences

TriSalus Life Sciences, Inc, a medical technology company, researches, develops, and sells drug delivery technologies and immune-oncology therapeutics for the treatment of liver and pancreatic cancer. The company offers Pressure Enabled Drug Delivery infusion systems, such as the TriNav infusion system, which is used in transarterial radioembolization and chemoembolization procedures for patients with liver cancer and metastases; and the Pancreatic Retrograde Venous Infusion device, which is in Phase 1 clinical trial, for locally advanced pancreatic cancer.