Orbimed Advisors Llc Sells 378,000 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) major shareholder Orbimed Advisors Llc sold 378,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $4.74, for a total transaction of $1,791,720.00. Following the completion of the sale, the insider now owns 2,457,542 shares in the company, valued at $11,648,749.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, July 1st, Orbimed Advisors Llc sold 13,700 shares of TELA Bio stock. The shares were sold at an average price of $4.68, for a total transaction of $64,116.00.

TELA Bio Stock Performance

Shares of NASDAQ:TELA opened at $4.35 on Thursday. The company has a current ratio of 4.13, a quick ratio of 3.23 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $107.27 million, a price-to-earnings ratio of -2.60 and a beta of 1.02. TELA Bio, Inc. has a 12 month low of $4.23 and a 12 month high of $10.84. The firm’s 50-day moving average is $5.34 and its 200 day moving average is $5.93.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share 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 firm had revenue of $16.60 million for the quarter, compared to the consensus estimate of $15.90 million. During the same period in the prior year, the business posted ($0.63) earnings per share. Research analysts predict that TELA Bio, Inc. will post -1.49 EPS for the current year.

Institutional Trading of TELA Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Sectoral Asset Management Inc. increased its stake in TELA Bio by 194.3% in the 3rd quarter. Sectoral Asset Management Inc. now owns 525,000 shares of the company’s stock worth $4,200,000 after buying an additional 346,628 shares during the period. Spouting Rock Asset Management LLC raised its stake in shares of TELA Bio by 51.7% during the third quarter. Spouting Rock Asset Management LLC now owns 21,497 shares of the company’s stock valued at $172,000 after acquiring an additional 7,326 shares in the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of TELA Bio by 10.4% in the fourth quarter. Perkins Capital Management Inc. now owns 210,250 shares of the company’s stock valued at $1,392,000 after purchasing an additional 19,750 shares during the period. Trexquant Investment LP bought a new position in TELA Bio in the fourth quarter worth approximately $109,000. Finally, Worth Venture Partners LLC raised its position in TELA Bio by 9.9% during the 4th quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock valued at $2,286,000 after purchasing an additional 31,111 shares in the last quarter. 94.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TELA has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (down from $12.00) on shares of TELA Bio in a research note on Friday, May 10th. JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of TELA Bio in a research report on Friday, March 22nd.

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.