27,772 Shares in TELA Bio, Inc. (NASDAQ:TELA) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new position in shares of TELA Bio, Inc. (NASDAQ:TELA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,772 shares of the company’s stock, valued at approximately $131,000.

Several other large investors also recently bought and sold shares of TELA. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 7,199 shares in the last quarter. Trexquant Investment LP acquired a new position in TELA Bio during the fourth quarter worth about $109,000. Russell Investments Group Ltd. lifted 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 purchasing an additional 49,204 shares in the last quarter. AIGH Capital Management LLC grew its position in shares of TELA Bio by 10.0% in the fourth quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company’s stock valued at $9,122,000 after purchasing an additional 125,000 shares during the last quarter. Finally, Worth Venture Partners LLC increased its stake in shares of TELA Bio by 9.9% during the 4th quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock worth $2,286,000 after purchasing an additional 31,111 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TELA shares. Canaccord Genuity Group reduced their target price on TELA Bio from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Piper Sandler decreased their price objective on TELA Bio from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. JMP Securities cut their target price on shares of 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. Finally, Lake Street Capital reduced 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.

TELA Bio Trading Down 6.0 %

Shares of TELA Bio stock opened at $2.49 on Tuesday. TELA Bio, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.93. The business’s fifty day moving average is $3.66 and its two-hundred day moving average is $4.74. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 14.22. The firm has a market cap of $61.53 million, a PE ratio of -1.49 and a beta of 0.99.

TELA Bio (NASDAQ:TELA) last released its 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 business 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 company posted ($0.46) earnings per share. Analysts anticipate that TELA Bio, Inc. will post -1.39 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Orbimed Advisors Llc sold 13,700 shares of the company’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 transaction, the insider now owns 2,443,842 shares of the company’s stock, valued at $11,437,180.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

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.