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

TELA Bio, Inc. (NASDAQ:TELA) CTO Paul Talmo acquired 22,222 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 $49,999.50. Following the acquisition, the chief technology officer now directly owns 91,082 shares of the company’s stock, valued at approximately $204,934.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

TELA Bio Trading Down 2.6 %

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

TELA Bio (NASDAQ:TELA) last posted its earnings results on Monday, August 12th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.06). The business had revenue of $16.09 million for 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 firm earned ($0.46) earnings per share. As a group, equities research analysts expect that TELA Bio, Inc. will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TELA. 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 report on Tuesday, August 13th. JMP Securities dropped their price objective 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. Canaccord Genuity Group reiterated a “buy” rating and set a $12.00 price objective on shares of TELA Bio in a report on Friday, October 4th. Finally, Lake Street Capital dropped their price objective on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Institutional Investors Weigh In On TELA Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of TELA Bio in the second quarter valued at approximately $25,000. Embree Financial Group purchased a new position in TELA Bio in the third quarter worth $25,000. Ground Swell Capital LLC bought a new position in TELA Bio in the 2nd quarter valued at $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TELA Bio during the 2nd quarter valued at $115,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of TELA Bio during the 2nd quarter worth $131,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.

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.