Jane Street Group LLC Sells 76,505 Shares of TELA Bio, Inc. (NASDAQ:TELA)

Jane Street Group LLC decreased its position in TELA Bio, Inc. (NASDAQ:TELAFree Report) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,531 shares of the company’s stock after selling 76,505 shares during the quarter. Jane Street Group LLC owned about 0.10% of TELA Bio worth $60,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TELA. Renaissance Technologies LLC bought a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $368,000. Paradigm Capital Management Inc. NY grew its stake in shares of TELA Bio by 143.8% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,256,200 shares of the company’s stock valued at $5,904,000 after buying an additional 740,935 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $25,000. Cubist Systematic Strategies LLC bought a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $302,000. Finally, Squarepoint Ops LLC bought a new stake in TELA Bio during the second quarter worth approximately $132,000. Institutional investors own 94.35% of the company’s stock.

TELA Bio Stock Performance

Shares of NASDAQ TELA opened at $2.70 on Thursday. The business has a fifty day simple moving average of $2.92 and a 200 day simple moving average of $3.16. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22. The firm has a market capitalization of $106.35 million, a price-to-earnings ratio of -1.60 and a beta of 1.00. TELA Bio, Inc. has a one year low of $2.30 and a one year high of $7.84.

TELA Bio (NASDAQ:TELAGet Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.05). The firm had revenue of $18.96 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted ($0.45) earnings per share. Sell-side analysts expect that TELA Bio, Inc. will post -1.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TELA. Canaccord Genuity Group reaffirmed a “buy” rating and set a $12.00 target price on shares of TELA Bio in a research report on Friday, October 4th. Piper Sandler cut 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.

Get Our Latest Analysis on TELA

Insiders Place Their Bets

In other TELA Bio news, CTO Paul Talmo bought 22,222 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were bought at an average price of $2.25 per share, for a total transaction of $49,999.50. Following the completion of the acquisition, the chief technology officer now owns 91,082 shares of the company’s stock, valued at approximately $204,934.50. This trade represents a 32.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Roberto Cuca bought 64,444 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were 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 directly owns 155,388 shares of the company’s stock, valued at approximately $349,623. The trade was a 70.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 182,220 shares of company stock worth $409,995 over the last three months. 6.00% of the stock is currently owned by corporate insiders.

TELA Bio Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for TELA Bio (NASDAQ:TELA)

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