TELA Bio, Inc. (NASDAQ:TELA) Insider Gregory A. Firestone Acquires 6,666 Shares of Stock

TELA Bio, Inc. (NASDAQ:TELA) insider Gregory A. Firestone purchased 6,666 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average price of $2.25 per share, for a total transaction of $14,998.50. Following the completion of the acquisition, the insider now directly owns 57,279 shares in the company, valued at $128,877.75. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

TELA Bio Price Performance

NASDAQ TELA opened at $2.58 on Friday. 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 firm’s 50 day moving average price is $2.68 and its 200-day moving average price is $4.16. TELA Bio, Inc. has a 52-week low of $2.30 and a 52-week high of $7.84. The company has a market cap of $63.75 million, a PE ratio of -1.50 and a beta of 0.99.

TELA Bio (NASDAQ:TELA) last posted its earnings results 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 firm 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 company earned ($0.46) EPS. Sell-side analysts forecast that TELA Bio, Inc. will post -1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TELA has been the topic of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $12.00 target price on shares of TELA Bio in a research note on Friday, October 4th. JMP Securities dropped their target price on shares of TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 13th. Lake Street Capital dropped their target price on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Piper Sandler dropped their price objective on shares of TELA Bio from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th.

Institutional Investors Weigh In On TELA Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC lifted its position in TELA Bio by 7.8% during the first quarter. First Light Asset Management LLC now owns 2,754,028 shares of the company’s stock valued at $15,615,000 after acquiring an additional 199,387 shares during the last quarter. Nantahala Capital Management LLC lifted its position in TELA Bio by 122.8% during the second quarter. Nantahala Capital Management LLC now owns 2,445,667 shares of the company’s stock valued at $11,495,000 after acquiring an additional 1,347,801 shares during the last quarter. AIGH Capital Management LLC raised its holdings in shares of TELA Bio by 17.1% in the second quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock worth $7,786,000 after buying an additional 241,400 shares during the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of TELA Bio by 143.8% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,256,200 shares of the company’s stock worth $5,904,000 after buying an additional 740,935 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of TELA Bio by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock worth $5,704,000 after buying an additional 7,199 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

TELA Bio Company Profile

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.