TELA Bio, Inc. (NASDAQ:TELA – Get Free Report) 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 approximately $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 more than 10% of a company’s stock 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 stock was sold at an average price of $4.74, for a total value of $1,791,720.00.
TELA Bio Trading Up 2.7 %
Shares of NASDAQ TELA opened at $4.61 on Wednesday. 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 52 week low of $4.23 and a 52 week high of $10.84. The stock’s fifty day moving average is $5.34 and its 200 day moving average is $5.94.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Trexquant Investment LP bought a new position in shares of TELA Bio in the fourth quarter worth $109,000. Spouting Rock Asset Management LLC increased its position in shares of TELA Bio by 51.7% in the third 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. Russell Investments Group Ltd. increased its position in shares of TELA Bio by 107.6% in the first quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock worth $538,000 after purchasing an additional 49,204 shares during the period. HighMark Wealth Management LLC bought a new position in shares of TELA Bio in the first quarter worth $1,099,000. Finally, Perkins Capital Management Inc. grew its position in TELA Bio by 10.4% in the fourth quarter. Perkins Capital Management Inc. now owns 210,250 shares of the company’s stock valued at $1,392,000 after acquiring an additional 19,750 shares during the last quarter. Institutional investors own 94.35% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on TELA. Piper Sandler reissued an “overweight” rating and set a $10.00 target price (down previously from $12.00) on shares of TELA Bio in a report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and set a $15.00 target price on shares of TELA Bio in a report on Friday, March 22nd.
Get Our Latest Stock Analysis on TELA
TELA Bio Company Profile
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.
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