Talis Biomedical Co. (NASDAQ:TLIS) Sees Significant Growth in Short Interest

Talis Biomedical Co. (NASDAQ:TLIS – Get Rating) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 705,100 shares, an increase of 27.5% from the April 15th total of 553,000 shares. Based on an average trading volume of 151,500 shares, the short-interest ratio is presently 4.7 days. Approximately 2.9% of the shares of the company are short sold.

Several institutional investors and hedge funds have recently made changes to their positions in TLIS. ArrowMark Colorado Holdings LLC boosted its holdings in shares of Talis Biomedical by 0.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 5,893,876 shares of the company’s stock worth $36,836,000 after buying an additional 21,951 shares during the period. Personal CFO Solutions LLC acquired a new position in shares of Talis Biomedical in the 3rd quarter valued at approximately $106,000. Qube Research & Technologies Ltd raised its position in shares of Talis Biomedical by 153.9% in the 4th quarter. Qube Research & Technologies Ltd now owns 59,161 shares of the company’s stock valued at $237,000 after buying an additional 35,863 shares in the last quarter. Deutsche Bank AG raised its position in shares of Talis Biomedical by 85.9% in the 3rd quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock valued at $94,000 after buying an additional 6,935 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Talis Biomedical by 17.4% during the 3rd quarter. Geode Capital Management LLC now owns 302,968 shares of the company’s stock worth $1,893,000 after purchasing an additional 44,925 shares in the last quarter. 65.38% of the stock is owned by institutional investors.

TLIS has been the subject of several analyst reports. BTIG Research downgraded Talis Biomedical from a “neutral” rating to a “sell” rating in a research report on Friday, March 18th. Zacks Investment Research cut Talis Biomedical from a “buy” rating to a “hold” rating in a report on Thursday, April 7th. Finally, Bank of America cut their target price on shares of Talis Biomedical from $3.00 to $1.50 and set an “underperform” rating on the stock in a research note on Wednesday, March 16th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average price target of $4.75.

Shares of NASDAQ TLIS traded down $0.02 during mid-day trading on Wednesday, hitting $1.04. 689 shares of the stock were exchanged, compared to its average volume of 174,179. The stock’s fifty day simple moving average is $1.28 and its two-hundred day simple moving average is $2.78. Talis Biomedical has a twelve month low of $0.96 and a twelve month high of $12.88.

Talis Biomedical (NASDAQ:TLIS – Get Rating) last announced its quarterly earnings data on Tuesday, March 15th. The company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.02. Talis Biomedical had a negative net margin of 3,757.88% and a negative return on equity of 66.55%. On average, analysts forecast that Talis Biomedical will post -3.56 earnings per share for the current year.

Talis Biomedical Company Profile (Get Rating)

Talis Biomedical Corporation operates as a molecular diagnostic company. The company is developing the Talis One system to address limitations of existing point-of-care diagnostic testing technologies for infectious diseases. It also offers Talis One COVID-19 Test System, which focuses on detection of SARS-CoV-2, the virus that causes COVID-19.

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