GSA Capital Partners LLP Purchases 89,712 Shares of TELA Bio, Inc. (NASDAQ:TELA)

GSA Capital Partners LLP lifted its stake in TELA Bio, Inc. (NASDAQ:TELA) by 398.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,205 shares of the company’s stock after purchasing an additional 89,712 shares during the period. GSA Capital Partners LLP owned 0.45% of TELA Bio worth $284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in shares of TELA Bio during the second quarter worth about $25,000. Vanguard Group Inc. raised its holdings in TELA Bio by 0.7% during 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 during the period. Embree Financial Group bought a new position in TELA Bio in the third quarter valued at approximately $25,000. Ground Swell Capital LLC acquired a new position in shares of TELA Bio in the second quarter valued at approximately $53,000. Finally, Perkins Capital Management Inc. increased its position in shares of TELA Bio by 10.2% during the third quarter. Perkins Capital Management Inc. now owns 225,200 shares of the company’s stock worth $570,000 after acquiring an additional 20,850 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

TELA Bio Trading Up 4.2 %

TELA opened at $3.01 on Friday. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. TELA Bio, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $7.84. The company’s 50 day moving average price is $2.70 and its two-hundred day moving average price is $3.88. The firm has a market capitalization of $118.56 million, a price-to-earnings ratio of -1.78 and a beta of 0.97.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.05). TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. The firm had revenue of $18.96 million for the quarter, compared to analyst estimates of $19.10 million. During the same quarter last year, the company earned ($0.45) earnings per share. As a group, research analysts predict that TELA Bio, Inc. will post -1.37 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on TELA shares. Canaccord Genuity Group reiterated a “buy” rating and set a $12.00 price objective on shares of TELA Bio in a report on Friday, October 4th. JMP Securities lowered their price objective on shares of TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th. Lake Street Capital cut their price objective on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Piper Sandler decreased their target price on shares of TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, November 8th.

Insider Activity

In other TELA Bio news, CEO Antony Koblish purchased 88,888 shares of the stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $2.25 per share, with a total value of $199,998.00. Following the completion of the purchase, the chief executive officer now directly owns 458,897 shares of the company’s stock, valued at approximately $1,032,518.25. This trade represents a 24.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Paul Talmo purchased 22,222 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $49,999.50. Following the completion of the purchase, the chief technology officer now directly owns 91,082 shares in the company, valued at approximately $204,934.50. This trade represents a 32.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 182,220 shares of company stock valued at $409,995 over the last three months. Corporate insiders own 6.00% of the company’s stock.

TELA Bio 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.