35,755 Shares in TELA Bio, Inc. (NASDAQ:TELA) Bought by Diametric Capital LP

Diametric Capital LP acquired a new stake in TELA Bio, Inc. (NASDAQ:TELA) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 35,755 shares of the company’s stock, valued at approximately $108,000.

A number of other large investors have also modified their holdings of TELA. Perkins Capital Management Inc. grew its position in shares of TELA Bio by 303.1% during the 4th quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock valued at $2,742,000 after acquiring an additional 682,665 shares during the period. Royce & Associates LP purchased a new position in TELA Bio during the fourth quarter worth approximately $3,020,000. AIGH Capital Management LLC grew its holdings in TELA Bio by 7.8% in the fourth quarter. AIGH Capital Management LLC now owns 2,662,785 shares of the company’s stock valued at $8,042,000 after purchasing an additional 193,412 shares during the period. JPMorgan Chase & Co. increased its position in shares of TELA Bio by 39,329.5% in the fourth quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company’s stock valued at $404,000 after buying an additional 133,327 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of TELA Bio by 91.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock worth $86,000 after buying an additional 13,555 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.

TELA Bio Trading Down 1.6 %

Shares of TELA stock opened at $1.25 on Thursday. TELA Bio, Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $6.50. The firm has a market capitalization of $49.24 million, a P/E ratio of -0.74 and a beta of 1.10. The stock’s fifty day moving average is $2.33 and its two-hundred day moving average is $2.62. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The firm had revenue of $17.65 million for the quarter, compared to analyst estimates of $23.17 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. Research analysts expect that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TELA has been the topic of a number of research analyst reports. Canaccord Genuity Group dropped their price target on shares of TELA Bio from $12.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Piper Sandler downgraded shares of TELA Bio from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $2.00 in a research report on Friday, March 21st.

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.