Paradigm Capital Management Inc. NY Boosts Stock Holdings in TELA Bio, Inc. (NASDAQ:TELA)

Paradigm Capital Management Inc. NY increased its stake in TELA Bio, Inc. (NASDAQ:TELA) by 143.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,256,200 shares of the company’s stock after acquiring an additional 740,935 shares during the period. Paradigm Capital Management Inc. NY owned approximately 5.10% of TELA Bio worth $5,904,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TELA. Vanguard Group Inc. raised its position in TELA Bio by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock valued at $5,704,000 after purchasing an additional 7,199 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in TELA Bio in the second quarter valued at approximately $53,000. Trexquant Investment LP purchased a new position in TELA Bio in the fourth quarter worth approximately $109,000. Los Angeles Capital Management LLC purchased a new position in TELA Bio in the second quarter worth approximately $131,000. Finally, Russell Investments Group Ltd. grew its holdings in TELA Bio by 107.6% during the 1st quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock worth $538,000 after acquiring an additional 49,204 shares in the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

TELA Bio Trading Down 5.4 %

NASDAQ TELA opened at $2.45 on Tuesday. The firm’s fifty day moving average is $3.45 and its two-hundred day moving average is $4.60. TELA Bio, Inc. has a one year low of $2.40 and a one year high of $8.30. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41. The firm has a market cap of $60.40 million, a PE ratio of -1.47 and a beta of 0.99.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.06). TELA Bio had a negative net margin of 65.04% and a negative return on equity of 252.57%. The company had revenue of $16.09 million during the quarter, compared to analyst estimates of $19.00 million. During the same quarter last year, the firm earned ($0.46) EPS. Analysts expect that TELA Bio, Inc. will post -1.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TELA shares. Piper Sandler reduced their price objective on shares of TELA Bio from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Lake Street Capital dropped their price objective on TELA Bio from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. JMP Securities cut their price target 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, Canaccord Genuity Group cut their price target on TELA Bio from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th.

Insider Transactions at TELA Bio

In related news, major shareholder Orbimed Advisors Llc sold 13,700 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.68, for a total value of $64,116.00. Following the completion of the sale, the insider now owns 2,443,842 shares in the company, valued at $11,437,180.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.00% of the company’s stock.

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.