TELA Bio, Inc. (NASDAQ:TELA) Shares Acquired by Stonepine Capital Management LLC

Stonepine Capital Management LLC increased its stake in shares of TELA Bio, Inc. (NASDAQ:TELA) by 77.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,110,000 shares of the company’s stock after acquiring an additional 484,355 shares during the period. TELA Bio makes up approximately 1.8% of Stonepine Capital Management LLC’s holdings, making the stock its 20th largest holding. Stonepine Capital Management LLC owned about 4.49% of TELA Bio worth $2,808,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on TELA shares. Canaccord Genuity Group reiterated a “buy” rating and set a $12.00 target price on shares of TELA Bio in a research note on Friday, October 4th. Lake Street Capital dropped their target price on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. 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 research report on Friday, November 8th. Finally, JMP Securities lowered 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.

Insider Activity

In related news, CFO Roberto Cuca acquired 64,444 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $2.25 per share, for a total transaction of $144,999.00. Following the completion of the acquisition, the chief financial officer now directly owns 155,388 shares of the company’s stock, valued at approximately $349,623. The trade was a 70.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Antony Koblish bought 88,888 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $2.25 per share, with a total value of $199,998.00. Following the completion of the transaction, the chief executive officer now directly owns 458,897 shares of the company’s stock, valued at $1,032,518.25. This trade represents a 24.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 182,220 shares of company stock valued at $409,995. Insiders own 6.00% of the company’s stock.

TELA Bio Stock Performance

Shares of TELA Bio stock traded up $0.09 on Wednesday, reaching $3.03. 102,827 shares of the company were exchanged, compared to its average volume of 240,948. TELA Bio, Inc. has a 1-year low of $2.30 and a 1-year high of $7.84. The company has a quick ratio of 1.81, a current ratio of 2.62 and a debt-to-equity ratio of 14.22. The company’s 50-day moving average is $2.72 and its two-hundred day moving average is $3.84.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $19.10 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. During the same period last year, the firm posted ($0.45) EPS. On average, equities research analysts forecast that TELA Bio, Inc. will post -1.37 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.