Insider Buying: TELA Bio, Inc. (NASDAQ:TELA) CTO Purchases 22,222 Shares of Stock

TELA Bio, Inc. (NASDAQ:TELA) CTO Paul Talmo purchased 22,222 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average price of $2.25 per share, for a total transaction of $49,999.50. Following the purchase, the chief technology officer now directly owns 91,082 shares in the company, valued at $204,934.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TELA Bio Stock Up 10.9 %

TELA opened at $2.86 on Friday. The company has a debt-to-equity ratio of 14.22, a current ratio of 3.41 and a quick ratio of 2.52. The business has a 50 day simple moving average of $2.66 and a 200-day simple moving average of $4.12. The stock has a market capitalization of $70.51 million, a P/E ratio of -1.71 and a beta of 0.99. TELA Bio, Inc. has a 12 month low of $2.30 and a 12 month high of $7.84.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.06). The business had revenue of $16.09 million during the quarter, compared to analyst estimates of $19.00 million. TELA Bio had a negative net margin of 65.04% and a negative return on equity of 252.57%. During the same period in the prior year, the business earned ($0.46) earnings per share. On average, equities analysts anticipate that TELA Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TELA shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $12.00 price objective on shares of TELA Bio in a research report on Friday, October 4th. Lake Street Capital decreased their price objective on TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. JMP Securities decreased their price objective on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 13th. Finally, Piper Sandler decreased their price objective on TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th.

Institutional Trading of TELA Bio

Several hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $25,000. Vanguard Group Inc. raised its holdings in TELA Bio by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock worth $5,704,000 after purchasing an additional 7,199 shares during the last quarter. Embree Financial Group acquired a new position in TELA Bio during the third quarter worth $25,000. Ground Swell Capital LLC acquired a new position in TELA Bio during the second quarter worth $53,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in TELA Bio during the second quarter worth $115,000. 94.35% of the stock is owned by institutional investors and hedge funds.

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.