GSA Capital Partners LLP Purchases 89,712 Shares of TELA Bio, Inc. (NASDAQ:TELA)

GSA Capital Partners LLP lifted its holdings in TELA Bio, Inc. (NASDAQ:TELA) by 398.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,205 shares of the company’s stock after purchasing an additional 89,712 shares during the period. GSA Capital Partners LLP’s holdings in TELA Bio were worth $284,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in TELA Bio by 107.6% during the first quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock valued at $538,000 after acquiring an additional 49,204 shares during the period. Vanguard Group Inc. lifted its holdings in TELA Bio by 0.7% in the 1st 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 in the last quarter. Pentwater Capital Management LP boosted its stake in TELA Bio by 29.6% in the 2nd quarter. Pentwater Capital Management LP now owns 400,000 shares of the company’s stock worth $1,880,000 after purchasing an additional 91,358 shares during the period. Los Angeles Capital Management LLC bought a new position in TELA Bio in the 2nd quarter worth approximately $131,000. Finally, AIGH Capital Management LLC raised its position in shares of TELA Bio by 17.1% during the second quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock valued at $7,786,000 after buying an additional 241,400 shares during the last quarter. Institutional investors own 94.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Piper Sandler reduced their price target on shares of TELA Bio from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of TELA Bio in a report on Friday, October 4th. Lake Street Capital dropped their price target on TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, JMP Securities reduced their price objective on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 13th.

Insider Buying and Selling at TELA Bio

In other news, CTO Paul Talmo purchased 22,222 shares of TELA Bio stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $2.25 per share, with a total value of $49,999.50. Following the transaction, the chief technology officer now owns 91,082 shares in the company, valued at $204,934.50. This represents a 32.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antony Koblish acquired 88,888 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $2.25 per share, with a total value of $199,998.00. Following the transaction, the chief executive officer now directly owns 458,897 shares in the company, valued at $1,032,518.25. This trade represents a 24.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 182,220 shares of company stock valued at $409,995 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

TELA Bio Trading Up 4.2 %

Shares of NASDAQ TELA opened at $3.01 on Friday. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. The stock has a market capitalization of $118.56 million, a P/E ratio of -1.78 and a beta of 0.97. The business has a fifty day moving average price of $2.70 and a 200 day moving average price of $3.88. TELA Bio, Inc. has a 1-year low of $2.30 and a 1-year high of $7.84.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.05). The firm had revenue of $18.96 million during the quarter, compared to analysts’ expectations of $19.10 million. TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. During the same quarter in the previous year, the business earned ($0.45) earnings per share. Equities research analysts expect that TELA Bio, Inc. will post -1.37 EPS for the current fiscal year.

TELA Bio 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.