TELA Bio, Inc. (NASDAQ:TELA) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in TELA Bio, Inc. (NASDAQ:TELA) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,515 shares of the company’s stock after selling 5,449 shares during the quarter. Geode Capital Management LLC owned about 0.71% of TELA Bio worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in shares of TELA Bio in the second quarter valued at approximately $25,000. Embree Financial Group purchased a new stake in TELA Bio in the 3rd quarter worth approximately $25,000. Perkins Capital Management Inc. raised its holdings in TELA Bio by 10.2% in the 3rd quarter. Perkins Capital Management Inc. now owns 225,200 shares of the company’s stock valued at $570,000 after acquiring an additional 20,850 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of TELA Bio during the 2nd quarter worth $115,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of TELA Bio during the 2nd quarter worth $131,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TELA Bio

In other TELA Bio news, CEO Antony Koblish bought 88,888 shares of the stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $2.25 per share, for a total transaction 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. The trade was a 24.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Paul Talmo bought 22,222 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $2.25 per share, for a total transaction of $49,999.50. Following the completion of the transaction, the chief technology officer now owns 91,082 shares of the company’s stock, valued at approximately $204,934.50. The trade was a 32.27 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 182,220 shares of company stock valued at $409,995. Corporate insiders own 6.00% of the company’s stock.

TELA Bio Trading Down 3.4 %

TELA stock opened at $2.81 on Monday. The business has a fifty day simple moving average of $2.93 and a 200-day simple moving average of $3.19. The company has a market cap of $110.68 million, a price-to-earnings ratio of -1.66 and a beta of 1.00. TELA Bio, Inc. has a 52 week low of $2.30 and a 52 week high of $7.84. The company has a quick ratio of 1.81, a current ratio of 2.62 and a debt-to-equity ratio of 14.22.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $18.96 million for the quarter, compared to analyst estimates of $19.10 million. During the same quarter in the prior year, the firm earned ($0.45) EPS. On average, equities research analysts expect that TELA Bio, Inc. will post -1.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $12.00 target price on shares of TELA Bio in a research note on Friday, October 4th. Piper Sandler lowered their price target on TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, November 8th.

About TELA Bio

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.