Antony Koblish Buys 88,888 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) CEO Antony Koblish bought 88,888 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $2.25 per share, with a total value of $199,998.00. Following the completion of the acquisition, the chief executive officer now directly owns 458,897 shares in the company, valued at $1,032,518.25. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

TELA Bio Stock Up 10.9 %

TELA stock opened at $2.86 on Friday. The company has a 50 day moving average price of $2.67 and a two-hundred day moving average price of $4.15. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41. 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 one year low of $2.30 and a one year high of $7.84.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.51) earnings per share (EPS) 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 analyst estimates 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 business earned ($0.46) EPS. As a group, sell-side analysts expect that TELA Bio, Inc. will post -1.39 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of TELA Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new position in shares of TELA Bio during the 2nd quarter worth about $25,000. Embree Financial Group purchased a new position in TELA Bio during the third quarter worth approximately $25,000. Ground Swell Capital LLC purchased a new position in TELA Bio during the second quarter worth approximately $53,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of TELA Bio in the 2nd quarter valued at $115,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of TELA Bio during the 2nd quarter valued at $131,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.

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.