TELA Bio, Inc. (NASDAQ:TELA – Get Free Report) major shareholder Orbimed Advisors Llc sold 13,700 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.68, for a total transaction of $64,116.00. Following the completion of the sale, the insider now owns 2,443,842 shares of the company’s stock, valued at $11,437,180.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Orbimed Advisors Llc also recently made the following trade(s):
- On Friday, June 28th, Orbimed Advisors Llc sold 378,000 shares of TELA Bio stock. The shares were sold at an average price of $4.74, for a total value of $1,791,720.00.
TELA Bio Stock Down 5.6 %
Shares of TELA stock opened at $4.35 on Friday. TELA Bio, Inc. has a one year low of $4.23 and a one year high of $10.84. The company has a quick ratio of 3.23, a current ratio of 4.13 and a debt-to-equity ratio of 2.83. The stock has a fifty day moving average price of $5.34 and a 200 day moving average price of $5.92.
Institutional Investors Weigh In On TELA Bio
A number of institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC raised its holdings in shares of TELA Bio by 7.8% in the 1st quarter. First Light Asset Management LLC now owns 2,754,028 shares of the company’s stock worth $15,615,000 after buying an additional 199,387 shares in the last quarter. AIGH Capital Management LLC boosted its stake in TELA Bio by 10.0% in the 4th quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company’s stock valued at $9,122,000 after buying an additional 125,000 shares in the last quarter. Vanguard Group Inc. grew its position in TELA Bio by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock valued at $5,704,000 after acquiring an additional 7,199 shares during the period. Sectoral Asset Management Inc. raised its stake in TELA Bio by 194.3% during the third quarter. Sectoral Asset Management Inc. now owns 525,000 shares of the company’s stock worth $4,200,000 after acquiring an additional 346,628 shares in the last quarter. Finally, Worth Venture Partners LLC lifted its holdings in shares of TELA Bio by 9.9% during the fourth quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock valued at $2,286,000 after acquiring an additional 31,111 shares during the period. 94.35% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of TELA Bio in a research report on Friday, March 22nd. Piper Sandler reissued an “overweight” rating and set a $10.00 target price (down from $12.00) on shares of TELA Bio in a research report on Friday, May 10th.
Get Our Latest Research Report on TELA Bio
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.
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