Orbimed Advisors Llc Sells 378,000 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) major shareholder Orbimed Advisors Llc sold 378,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $4.74, for a total transaction of $1,791,720.00. Following the transaction, the insider now directly owns 2,457,542 shares of the company’s stock, valued at approximately $11,648,749.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Monday, July 1st, Orbimed Advisors Llc sold 13,700 shares of TELA Bio stock. The stock was sold at an average price of $4.68, for a total value of $64,116.00.

TELA Bio Stock Performance

NASDAQ:TELA opened at $4.61 on Wednesday. The firm’s fifty day simple moving average is $5.34 and its 200 day simple moving average is $5.94. The company has a debt-to-equity ratio of 2.83, a quick ratio of 3.23 and a current ratio of 4.13. TELA Bio, Inc. has a twelve month low of $4.23 and a twelve month high of $10.84.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.25. TELA Bio had a negative return on equity of 155.26% and a negative net margin of 63.82%. The company had revenue of $16.60 million for the quarter, compared to analysts’ expectations of $15.90 million. During the same quarter in the previous year, the firm posted ($0.63) earnings per share. As a group, research analysts expect that TELA Bio, Inc. will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On TELA Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC boosted its stake in shares of TELA Bio by 7.8% in 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 purchasing an additional 199,387 shares during the period. Vanguard Group Inc. lifted its holdings in TELA Bio by 0.7% in the 1st 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 in the last quarter. Russell Investments Group Ltd. boosted its position in TELA Bio by 107.6% in the 1st quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock valued at $538,000 after buying an additional 49,204 shares during the last quarter. HighMark Wealth Management LLC purchased a new position in TELA Bio in the 1st quarter valued at about $1,099,000. Finally, AIGH Capital Management LLC grew its stake in shares of TELA Bio by 10.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company’s stock valued at $9,122,000 after acquiring an additional 125,000 shares in the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $10.00 price target (down previously from $12.00) on shares of TELA Bio in a research report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and set a $15.00 target price on shares of TELA Bio in a report on Friday, March 22nd.

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.