Roberto Cuca Acquires 64,444 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) CFO Roberto Cuca acquired 64,444 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were bought at an average price of $2.25 per share, with a total value of $144,999.00. Following the transaction, the chief financial officer now directly owns 155,388 shares in the company, valued at approximately $349,623. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

TELA Bio Stock Down 2.6 %

NASDAQ:TELA traded down $0.07 during trading hours on Thursday, hitting $2.58. 540,218 shares of the company’s stock traded hands, compared to its average volume of 184,861. The firm has a market cap of $63.75 million, a P/E ratio of -1.50 and a beta of 0.99. TELA Bio, Inc. has a twelve month low of $2.30 and a twelve month high of $7.84. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41. The stock’s fifty day moving average price is $2.68 and its two-hundred day moving average price is $4.16.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). TELA Bio had a negative net margin of 65.04% and a negative return on equity of 252.57%. The company had revenue of $16.09 million for the quarter, compared to analysts’ expectations of $19.00 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. On average, research analysts expect that TELA Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JMP Securities cut their target price on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $12.00 price objective on shares of TELA Bio in a research note on Friday, October 4th. Piper Sandler dropped their target price on shares of TELA Bio from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, Lake Street Capital reduced their price target on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Institutional Trading of TELA Bio

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in TELA Bio in the 2nd quarter worth about $25,000. Vanguard Group Inc. grew its stake in shares of TELA Bio by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock valued at $5,704,000 after buying an additional 7,199 shares in the last quarter. Embree Financial Group acquired a new position in TELA Bio in the third quarter worth approximately $25,000. Ground Swell Capital LLC bought a new position in TELA Bio during the second quarter valued at approximately $53,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in TELA Bio in the second quarter valued at approximately $115,000. 94.35% of the stock is currently 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.