Cubist Systematic Strategies LLC Purchases New Holdings in TELA Bio, Inc. (NASDAQ:TELA)

Cubist Systematic Strategies LLC acquired a new position in shares of TELA Bio, Inc. (NASDAQ:TELA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 64,289 shares of the company’s stock, valued at approximately $302,000. Cubist Systematic Strategies LLC owned approximately 0.26% of TELA Bio as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of TELA. First Light Asset Management LLC grew its holdings in TELA Bio by 7.8% during 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. Nantahala Capital Management LLC raised its stake in TELA Bio by 122.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 2,445,667 shares of the company’s stock worth $11,495,000 after buying an additional 1,347,801 shares during the period. AIGH Capital Management LLC lifted its holdings in TELA Bio by 17.1% during the second quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock worth $7,786,000 after acquiring an additional 241,400 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in TELA Bio by 143.8% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,256,200 shares of the company’s stock valued at $5,904,000 after acquiring an additional 740,935 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of TELA Bio by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock worth $5,704,000 after acquiring an additional 7,199 shares in the last quarter. 94.35% of the stock is currently owned by institutional investors.

TELA Bio Stock Performance

Shares of NASDAQ TELA opened at $2.49 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 14.22. The company has a market capitalization of $61.39 million, a P/E ratio of -1.49 and a beta of 0.99. TELA Bio, Inc. has a 12 month low of $2.30 and a 12 month high of $7.84. The stock has a 50 day moving average of $2.85 and a 200-day moving average of $4.29.

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

Analyst Upgrades and Downgrades

TELA has been the topic of several recent analyst reports. Lake Street Capital cut 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 target price on 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. Canaccord Genuity Group restated a “buy” rating and issued a $12.00 price objective on shares of TELA Bio in a report on Friday, October 4th. Finally, Piper Sandler cut their price target on shares of TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th.

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.