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

Stonepine Capital Management LLC cut its holdings in TELA Bio, Inc. (NASDAQ:TELA) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 625,645 shares of the company’s stock after selling 62,555 shares during the period. TELA Bio makes up approximately 2.7% of Stonepine Capital Management LLC’s portfolio, making the stock its 8th biggest position. Stonepine Capital Management LLC owned approximately 2.53% of TELA Bio worth $2,941,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TELA. Point72 DIFC Ltd acquired a new stake in TELA Bio during the second quarter worth approximately $25,000. Ground Swell Capital LLC bought a new stake in shares of TELA Bio in the 2nd quarter valued at $53,000. Trexquant Investment LP acquired a new position in shares of TELA Bio during the 4th quarter valued at $109,000. Point72 Asia Singapore Pte. Ltd. bought a new position in TELA Bio during the second quarter worth $115,000. Finally, Los Angeles Capital Management LLC acquired a new stake in TELA Bio in the second quarter worth $131,000. 94.35% of the stock is owned by institutional investors.

TELA Bio Price Performance

Shares of NASDAQ:TELA opened at $2.53 on Tuesday. TELA Bio, Inc. has a 1-year low of $2.32 and a 1-year high of $8.00. 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 stock has a market cap of $62.52 million, a PE ratio of -1.51 and a beta of 0.99. The stock’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $4.50.

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

Analysts Set New Price Targets

TELA has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their target price on TELA Bio from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Piper Sandler reduced their price objective on shares of TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Lake Street Capital lowered their target price on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, JMP Securities cut their price target on TELA Bio from $15.00 to $12.00 and set a “market outperform” 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.