Squarepoint Ops LLC Takes $132,000 Position in TELA Bio, Inc. (NASDAQ:TELA)

Squarepoint Ops LLC purchased a new stake in TELA Bio, Inc. (NASDAQ:TELA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,028 shares of the company’s stock, valued at approximately $132,000. Squarepoint Ops LLC owned approximately 0.11% of TELA Bio as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Paradigm Capital Management Inc. NY grew its position in TELA Bio by 143.8% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,256,200 shares of the company’s stock worth $5,904,000 after buying an additional 740,935 shares in the last quarter. AIGH Capital Management LLC grew its position in TELA Bio by 17.1% during the second quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock worth $7,786,000 after buying an additional 241,400 shares in the last quarter. Vanguard Group Inc. grew its position 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 buying an additional 7,199 shares in the last quarter. Russell Investments Group Ltd. grew its position in TELA Bio by 107.6% during the first quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock worth $538,000 after buying an additional 49,204 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in TELA Bio during the second quarter worth about $131,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

TELA Bio Price Performance

TELA opened at $2.44 on Monday. The stock has a 50-day moving average price of $2.89 and a 200-day moving average price of $4.31. TELA Bio, Inc. has a 12-month low of $2.30 and a 12-month high of $7.84. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 14.22. The stock has a market capitalization of $60.16 million, a P/E ratio of -1.46 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 analysts’ consensus estimates of ($0.45) by ($0.06). TELA Bio had a negative net margin of 65.04% and a negative return on equity of 252.57%. The company had revenue of $16.09 million during the quarter, compared to the consensus estimate of $19.00 million. During the same period last year, the firm posted ($0.46) EPS. Equities analysts predict that TELA Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TELA has been the subject of several recent analyst reports. Piper Sandler reduced their target price 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. JMP Securities cut their price objective on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $12.00 price objective on shares of TELA Bio in a report on Friday, October 4th. Finally, Lake Street Capital cut their price objective on TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.

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.