TELA Bio, Inc. (NASDAQ:TELA) Position Increased by Stonepine Capital Management LLC

Stonepine Capital Management LLC boosted its holdings in TELA Bio, Inc. (NASDAQ:TELA) by 77.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,110,000 shares of the company’s stock after buying an additional 484,355 shares during the quarter. TELA Bio accounts for 1.8% of Stonepine Capital Management LLC’s holdings, making the stock its 20th largest position. Stonepine Capital Management LLC’s holdings in TELA Bio were worth $2,808,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TELA. Point72 DIFC Ltd acquired a new stake in shares of TELA Bio during the second quarter worth $25,000. Embree Financial Group purchased a new position in TELA Bio in the 3rd quarter worth about $25,000. Ground Swell Capital LLC acquired a new stake in TELA Bio during the 2nd quarter worth about $53,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in TELA Bio during the 2nd quarter worth about $115,000. Finally, Los Angeles Capital Management LLC purchased a new stake in TELA Bio during the second quarter valued at about $131,000. Institutional investors own 94.35% of the company’s stock.

Insider Transactions at TELA Bio

In other news, CEO Antony Koblish bought 88,888 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $2.25 per share, with a total value of $199,998.00. Following the transaction, the chief executive officer now directly owns 458,897 shares in the company, valued at approximately $1,032,518.25. The trade was a 24.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Roberto Cuca purchased 64,444 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $2.25 per share, with a total value of $144,999.00. Following the completion of the acquisition, the chief financial officer now directly owns 155,388 shares of the company’s stock, valued at approximately $349,623. This trade represents a 70.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 182,220 shares of company stock worth $409,995. 6.00% of the stock is owned by corporate insiders.

TELA Bio Stock Up 3.1 %

Shares of NASDAQ TELA traded up $0.09 during trading hours on Wednesday, hitting $3.03. The stock had a trading volume of 102,827 shares, compared to its average volume of 240,948. The firm’s 50-day moving average price is $2.72 and its two-hundred day moving average price is $3.84. TELA Bio, Inc. has a 52 week low of $2.30 and a 52 week high of $7.84. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). The business had revenue of $18.96 million for the quarter, compared to the consensus estimate of $19.10 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. During the same quarter in the prior year, the business posted ($0.45) EPS. On average, sell-side analysts forecast that TELA Bio, Inc. will post -1.37 EPS for the current fiscal year.

Analysts Set New Price Targets

TELA has been the topic of several recent analyst reports. JMP Securities dropped their price target 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 reissued a “buy” rating and issued a $12.00 price target on shares of TELA Bio in a research report on Friday, October 4th. Piper Sandler lowered their price objective on shares of TELA Bio from $8.00 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Lake Street Capital cut 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 report on Tuesday, August 13th.

TELA Bio 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.