Cubist Systematic Strategies LLC Buys Shares of 64,289 TELA Bio, Inc. (NASDAQ:TELA)

Cubist Systematic Strategies LLC purchased a new position in shares of TELA Bio, Inc. (NASDAQ:TELA) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 64,289 shares of the company’s stock, valued at approximately $302,000.

Several other large investors have also made changes to their positions in the company. Nantahala Capital Management LLC boosted its stake in TELA Bio by 122.8% in the second quarter. Nantahala Capital Management LLC now owns 2,445,667 shares of the company’s stock valued at $11,495,000 after buying an additional 1,347,801 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of TELA Bio by 143.8% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,256,200 shares of the company’s stock valued at $5,904,000 after purchasing an additional 740,935 shares in the last quarter. AIGH Capital Management LLC boosted its stake in shares of TELA Bio by 17.1% in the 2nd quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company’s stock valued at $7,786,000 after purchasing an additional 241,400 shares in the last quarter. First Light Asset Management LLC grew its holdings in shares of TELA Bio by 7.8% during the 1st quarter. First Light Asset Management LLC now owns 2,754,028 shares of the company’s stock valued at $15,615,000 after purchasing an additional 199,387 shares during the last quarter. Finally, Pentwater Capital Management LP increased its position in TELA Bio by 29.6% during 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 in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TELA. Piper Sandler cut their target price on shares of TELA Bio from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Lake Street Capital cut their price objective on TELA Bio from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. 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. Finally, JMP Securities cut their price target 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.

TELA Bio Price Performance

Shares of NASDAQ:TELA opened at $2.49 on Tuesday. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41. TELA Bio, Inc. has a 52 week low of $2.30 and a 52 week high of $7.84. The firm has a market cap of $61.39 million, a PE ratio of -1.49 and a beta of 0.99. The firm’s fifty day moving average is $2.85 and its 200-day moving average is $4.29.

TELA Bio (NASDAQ:TELA) last announced its 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). TELA Bio had a negative return on equity of 252.57% and a negative net margin of 65.04%. The company had revenue of $16.09 million for the quarter, compared to analyst estimates of $19.00 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. Sell-side analysts predict that TELA Bio, Inc. will post -1.39 earnings per share for the current year.

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.