TELA Bio, Inc. (NASDAQ:TELA) Shares Sold by State Street Corp

State Street Corp lessened its position in shares of TELA Bio, Inc. (NASDAQ:TELA) by 39.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,483 shares of the company’s stock after selling 41,952 shares during the quarter. State Street Corp owned approximately 0.26% of TELA Bio worth $166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nantahala Capital Management LLC increased its position 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 purchasing an additional 1,347,801 shares in the last quarter. AIGH Capital Management LLC increased its position in TELA Bio by 17.1% during the 2nd quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock worth $7,786,000 after purchasing an additional 241,400 shares in the last quarter. Paradigm Capital Management Inc. NY increased its position in TELA Bio by 143.8% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,256,200 shares of the company’s stock worth $5,904,000 after purchasing an additional 740,935 shares in the last quarter. Stonepine Capital Management LLC increased its position in TELA Bio by 77.4% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,110,000 shares of the company’s stock worth $2,808,000 after purchasing an additional 484,355 shares in the last quarter. Finally, Perkins Capital Management Inc. increased its position in TELA Bio by 10.2% during the 3rd quarter. Perkins Capital Management Inc. now owns 225,200 shares of the company’s stock worth $570,000 after purchasing an additional 20,850 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

TELA Bio Stock Up 1.0 %

TELA opened at $2.91 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. The stock has a market capitalization of $114.62 million, a price-to-earnings ratio of -1.72 and a beta of 0.99. The business has a 50-day moving average of $2.93 and a two-hundred day moving average of $3.30. TELA Bio, Inc. has a 12 month low of $2.30 and a 12 month high of $7.84.

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

Insider Buying and Selling at TELA Bio

In other news, CFO Roberto Cuca bought 64,444 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $2.25 per share, for a total transaction of $144,999.00. Following the acquisition, the chief financial officer now owns 155,388 shares of the company’s stock, valued at $349,623. This trade represents a 70.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Antony Koblish bought 88,888 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $2.25 per share, with a total value of $199,998.00. Following the acquisition, the chief executive officer now directly owns 458,897 shares in the company, valued at approximately $1,032,518.25. This trade represents a 24.02 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 182,220 shares of company stock worth $409,995 in the last 90 days. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

TELA has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $12.00 price objective on shares of TELA Bio in a research report on Friday, October 4th.

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.