Perkins Capital Management Inc. Purchases 20,850 Shares of TELA Bio, Inc. (NASDAQ:TELA)

Perkins Capital Management Inc. lifted its position in shares of TELA Bio, Inc. (NASDAQ:TELA) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,200 shares of the company’s stock after buying an additional 20,850 shares during the quarter. Perkins Capital Management Inc.’s holdings in TELA Bio were worth $570,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in TELA Bio during the 2nd quarter valued at about $25,000. Vanguard Group Inc. lifted its holdings 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 during the period. Embree Financial Group bought a new stake in TELA Bio during the 3rd quarter valued at $25,000. Ground Swell Capital LLC bought a new position in shares of TELA Bio in the 2nd quarter worth $53,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of TELA Bio in the 2nd quarter worth $115,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Insider Buying and Selling at TELA Bio

In other news, CFO Roberto Cuca bought 64,444 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $2.25 per share, with a total value 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 $349,623. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Antony Koblish purchased 88,888 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $2.25 per share, with a total value of $199,998.00. Following the completion of the acquisition, the chief executive officer now owns 458,897 shares of the company’s stock, valued at $1,032,518.25. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Roberto Cuca acquired 64,444 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $2.25 per share, for a total transaction of $144,999.00. Following the purchase, the chief financial officer now directly owns 155,388 shares in the company, valued at approximately $349,623. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 182,220 shares of company stock worth $409,995. 6.00% of the stock is currently owned by insiders.

TELA Bio Stock Up 3.4 %

NASDAQ:TELA opened at $3.02 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 14.22. TELA Bio, Inc. has a twelve month low of $2.30 and a twelve month high of $7.84. The company has a market cap of $74.64 million, a PE ratio of -1.76 and a beta of 0.97. The company’s 50 day moving average is $2.65 and its two-hundred day moving average is $4.01.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings data 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 quarter in the previous year, the firm posted ($0.46) earnings per share. Analysts anticipate that TELA Bio, Inc. will post -1.39 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JMP Securities cut their target price 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 price objective on shares of TELA Bio in a research report on Friday, October 4th. Lake Street Capital lowered 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 note on Tuesday, August 13th. Finally, Piper Sandler lowered their price objective 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.

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.