Paul Talmo Purchases 22,222 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) CTO Paul Talmo bought 22,222 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $2.25 per share, with a total value of $49,999.50. Following the completion of the transaction, the chief technology officer now directly owns 91,082 shares of the company’s stock, valued at approximately $204,934.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

TELA Bio Price Performance

Shares of NASDAQ:TELA opened at $2.58 on Friday. TELA Bio, Inc. has a 12 month low of $2.30 and a 12 month high of $7.84. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 14.22. The stock has a market cap of $63.75 million, a P/E ratio of -1.50 and a beta of 0.99. The company has a 50 day moving average of $2.68 and a 200 day moving average of $4.16.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.06). The firm had revenue of $16.09 million during the quarter, compared to the consensus estimate 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 previous year, the company posted ($0.46) EPS. As a group, 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 subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $12.00 price objective on shares of TELA Bio in a report on Friday, October 4th. Piper Sandler reduced their target price on shares of TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Lake Street Capital dropped their price target 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, JMP Securities lowered 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 report on Tuesday, August 13th.

Institutional Trading of TELA Bio

A number of large investors have recently modified their holdings of the business. Embree Financial Group bought a new position in shares of TELA Bio in the third quarter worth approximately $25,000. Point72 DIFC Ltd purchased a new stake in shares of TELA Bio during the 2nd quarter valued at $25,000. Cubist Systematic Strategies LLC bought a new stake in shares of TELA Bio during the 2nd quarter worth $302,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in TELA Bio in the second quarter worth $115,000. Finally, Nantahala Capital Management LLC increased its stake in TELA Bio by 122.8% in 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. 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.