Orbimed Advisors Llc Sells 13,700 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) major shareholder Orbimed Advisors Llc sold 13,700 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.68, for a total transaction of $64,116.00. Following the completion of the sale, the insider now directly owns 2,443,842 shares in the company, valued at approximately $11,437,180.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Friday, June 28th, Orbimed Advisors Llc sold 378,000 shares of TELA Bio stock. The shares were sold at an average price of $4.74, for a total transaction of $1,791,720.00.

TELA Bio Stock Down 5.6 %

NASDAQ TELA opened at $4.35 on Thursday. TELA Bio, Inc. has a 12 month low of $4.23 and a 12 month high of $10.84. The company has a quick ratio of 3.23, a current ratio of 4.13 and a debt-to-equity ratio of 2.83. The firm’s fifty day moving average price is $5.34 and its 200 day moving average price is $5.93.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.25. TELA Bio had a negative return on equity of 155.26% and a negative net margin of 63.82%. The company had revenue of $16.60 million for the quarter, compared to analyst estimates of $15.90 million. During the same quarter last year, the company posted ($0.63) earnings per share. Sell-side analysts anticipate that TELA Bio, Inc. will post -1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC increased its holdings in shares of TELA Bio by 7.8% in the 1st quarter. First Light Asset Management LLC now owns 2,754,028 shares of the company’s stock valued at $15,615,000 after acquiring an additional 199,387 shares during the period. Vanguard Group Inc. increased its stake in TELA Bio by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock valued at $5,704,000 after purchasing an additional 7,199 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of TELA Bio by 107.6% in the first quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock valued at $538,000 after buying an additional 49,204 shares during the last quarter. HighMark Wealth Management LLC acquired a new stake in shares of TELA Bio during the first quarter worth about $1,099,000. Finally, AIGH Capital Management LLC lifted its position in TELA Bio by 10.0% during the 4th quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company’s stock worth $9,122,000 after acquiring an additional 125,000 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TELA. Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (down previously from $12.00) on shares of TELA Bio in a research note on Friday, May 10th. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price objective on shares of TELA Bio in a research report on Friday, March 22nd.

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.