Insider Buying: TELA Bio, Inc. (NASDAQ:TELA) CEO Acquires $199,998.00 in Stock

TELA Bio, Inc. (NASDAQ:TELA) CEO Antony Koblish purchased 88,888 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were bought at an average price of $2.25 per share, for a total transaction of $199,998.00. Following the completion of the transaction, the chief executive officer now directly owns 458,897 shares in the company, valued at approximately $1,032,518.25. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

TELA Bio Price Performance

TELA stock traded down $0.07 during trading on Thursday, hitting $2.58. The company had a trading volume of 540,218 shares, compared to its average volume of 184,861. The business has a 50 day moving average of $2.68 and a 200 day moving average of $4.16. The firm has a market capitalization of $63.75 million, a price-to-earnings ratio of -1.50 and a beta of 0.99. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 14.22. TELA Bio, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $7.84.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). The company had revenue of $16.09 million during the quarter, compared to analyst estimates of $19.00 million. TELA Bio had a negative return on equity of 252.57% and a negative net margin of 65.04%. During the same period in the prior year, the company posted ($0.46) earnings per share. As a group, research analysts predict that TELA Bio, Inc. will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On TELA Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TELA. Nantahala Capital Management LLC raised its stake in shares of TELA Bio by 122.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,445,667 shares of the company’s stock worth $11,495,000 after buying an additional 1,347,801 shares in the last quarter. Paradigm Capital Management Inc. NY raised its position in 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 acquiring an additional 740,935 shares in the last quarter. AIGH Capital Management LLC lifted its holdings in TELA Bio by 17.1% in the 2nd quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock valued at $7,786,000 after acquiring an additional 241,400 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of TELA Bio by 7.8% during the 1st quarter. First Light Asset Management LLC now owns 2,754,028 shares of the company’s stock valued at $15,615,000 after purchasing an additional 199,387 shares in the last quarter. Finally, Pentwater Capital Management LP grew its stake in shares of TELA Bio by 29.6% in the 2nd quarter. Pentwater Capital Management LP now owns 400,000 shares of the company’s stock worth $1,880,000 after purchasing an additional 91,358 shares during the last quarter. 94.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TELA has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of TELA Bio in a research report on Friday, October 4th. Piper Sandler cut 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 report on Tuesday, August 13th. Lake Street Capital reduced their target price on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, JMP Securities dropped their price target 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.

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.