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

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

TELA Bio Price Performance

Shares of TELA traded down $0.07 during mid-day trading on Thursday, reaching $2.58. The stock had a trading volume of 540,218 shares, compared to its average volume of 184,861. The business has a fifty day moving average of $2.68 and a 200 day moving average of $4.16. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41. The firm has a market cap of $63.75 million, a price-to-earnings ratio of -1.50 and a beta of 0.99. TELA Bio, Inc. has a 12 month low of $2.30 and a 12 month high of $7.84.

TELA Bio (NASDAQ:TELA) last issued its 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 prior year, the company posted ($0.46) EPS. Equities analysts predict that TELA Bio, Inc. will post -1.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TELA. Canaccord Genuity Group restated a “buy” rating and set 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 for the company in a research report on Tuesday, August 13th. JMP Securities decreased their target price on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th. Finally, Lake Street Capital cut their price target on TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.

Institutional Trading of TELA Bio

Institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC boosted its stake in 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 purchasing an additional 1,347,801 shares during the period. Paradigm Capital Management Inc. NY lifted its holdings in shares of 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 buying an additional 740,935 shares in the last quarter. AIGH Capital Management LLC boosted its position in shares of TELA Bio by 17.1% during the second quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock worth $7,786,000 after acquiring an additional 241,400 shares during the last quarter. First Light Asset Management LLC grew its stake in TELA Bio by 7.8% during the first quarter. First Light Asset Management LLC now owns 2,754,028 shares of the company’s stock valued at $15,615,000 after acquiring an additional 199,387 shares in the last quarter. Finally, Pentwater Capital Management LP increased its holdings in TELA Bio by 29.6% in the 2nd quarter. Pentwater Capital Management LP now owns 400,000 shares of the company’s stock valued at $1,880,000 after acquiring an additional 91,358 shares during the last quarter. 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.