Diametric Capital LP Invests $108,000 in TELA Bio, Inc. (NASDAQ:TELA)

Diametric Capital LP acquired a new stake in shares of TELA Bio, Inc. (NASDAQ:TELA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,755 shares of the company’s stock, valued at approximately $108,000. Diametric Capital LP owned approximately 0.09% of TELA Bio at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AIGH Capital Management LLC boosted its holdings in shares of TELA Bio by 7.8% in the 4th quarter. AIGH Capital Management LLC now owns 2,662,785 shares of the company’s stock valued at $8,042,000 after buying an additional 193,412 shares in the last quarter. Royce & Associates LP purchased a new stake in TELA Bio during the fourth quarter valued at approximately $3,020,000. Perkins Capital Management Inc. boosted its stake in TELA Bio by 303.1% in the fourth quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock valued at $2,742,000 after acquiring an additional 682,665 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in TELA Bio by 39,329.5% in the fourth quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company’s stock worth $404,000 after purchasing an additional 133,327 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of TELA Bio by 91.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock worth $86,000 after purchasing an additional 13,555 shares in the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

TELA Bio Trading Down 1.6 %

NASDAQ:TELA opened at $1.25 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22. The firm has a fifty day simple moving average of $2.33 and a 200-day simple moving average of $2.62. TELA Bio, Inc. has a 12 month low of $1.15 and a 12 month high of $6.50. The company has a market capitalization of $49.24 million, a P/E ratio of -0.74 and a beta of 1.10.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. The business had revenue of $17.65 million for the quarter, compared to the consensus estimate of $23.17 million. On average, equities research analysts anticipate that TELA Bio, Inc. will post -1.37 earnings per share for the current year.

Analysts Set New Price Targets

TELA has been the subject of a number of recent analyst reports. Piper Sandler cut TELA Bio from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $5.00 to $2.00 in a research report on Friday, March 21st. Canaccord Genuity Group lowered their price target on TELA Bio from $12.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 21st.

About TELA Bio

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.