Insider Buying: TELA Bio, Inc. (NASDAQ:TELA) CTO Acquires 22,222 Shares of Stock

TELA Bio, Inc. (NASDAQ:TELA) CTO Paul Talmo acquired 22,222 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $2.25 per share, with a total value of $49,999.50. Following the purchase, the chief technology officer now directly owns 91,082 shares of the company’s stock, valued at $204,934.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

TELA Bio Trading Up 10.9 %

NASDAQ:TELA opened at $2.86 on Friday. The stock has a market cap of $70.51 million, a price-to-earnings ratio of -1.71 and a beta of 0.99. The business’s 50-day simple moving average is $2.67 and its 200 day simple moving average is $4.15. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41. TELA Bio, Inc. has a one year low of $2.30 and a one year high of $7.84.

TELA Bio (NASDAQ:TELA) last released its quarterly 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). TELA Bio had a negative return on equity of 252.57% and a negative net margin of 65.04%. The firm had revenue of $16.09 million for the quarter, compared to the consensus estimate of $19.00 million. During the same quarter in the prior year, the company posted ($0.46) EPS. As a group, sell-side analysts predict that TELA Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in TELA Bio in the 2nd quarter valued at approximately $25,000. Vanguard Group Inc. lifted its holdings in shares of TELA Bio by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock worth $5,704,000 after buying an additional 7,199 shares during the last quarter. Embree Financial Group bought a new position in shares of TELA Bio during the 3rd quarter worth about $25,000. Ground Swell Capital LLC acquired a new position in TELA Bio in the 2nd quarter valued at approximately $53,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in TELA Bio in the second quarter worth $115,000. 94.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on TELA. Piper Sandler reduced their price objective on TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Canaccord Genuity Group reissued a “buy” rating and set a $12.00 price target on shares of TELA Bio in a research note on Friday, October 4th. JMP Securities lowered 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 research note on Tuesday, August 13th. Finally, Lake Street Capital dropped their price target on TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

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.