Insider Selling: TELA Bio, Inc. (NASDAQ:TELA) Major Shareholder Sells 13,700 Shares of Stock

TELA Bio, Inc. (NASDAQ:TELA) major shareholder Orbimed Advisors Llc sold 13,700 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.68, for a total value of $64,116.00. Following the sale, the insider now directly owns 2,443,842 shares of the company’s stock, valued at $11,437,180.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 Friday, June 28th, Orbimed Advisors Llc sold 378,000 shares of TELA Bio stock. The shares were sold at an average price of $4.74, for a total value of $1,791,720.00.

TELA Bio Stock Performance

Shares of TELA opened at $4.61 on Wednesday. The business has a 50-day moving average of $5.34 and a 200 day moving average of $5.94. TELA Bio, Inc. has a fifty-two week low of $4.23 and a fifty-two week high of $10.84. The company has a debt-to-equity ratio of 2.83, a current ratio of 4.13 and a quick ratio of 3.23.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $15.90 million. During the same quarter last year, the firm posted ($0.63) EPS. Analysts forecast that TELA Bio, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELA Bio

Several large investors have recently added to or reduced their stakes in TELA. Spouting Rock Asset Management LLC boosted its stake in TELA Bio by 51.7% in the 3rd quarter. Spouting Rock Asset Management LLC now owns 21,497 shares of the company’s stock worth $172,000 after purchasing an additional 7,326 shares during the period. Trexquant Investment LP bought a new position in TELA Bio in the 4th quarter worth about $109,000. AIGH Capital Management LLC boosted its stake in TELA Bio by 10.0% in the 4th quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company’s stock worth $9,122,000 after purchasing an additional 125,000 shares during the period. Worth Venture Partners LLC boosted its stake in TELA Bio by 9.9% in the 4th quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock worth $2,286,000 after purchasing an additional 31,111 shares during the period. Finally, Perkins Capital Management Inc. boosted its stake in TELA Bio by 10.4% in the 4th quarter. Perkins Capital Management Inc. now owns 210,250 shares of the company’s stock worth $1,392,000 after purchasing an additional 19,750 shares during the period. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.