TELA Bio (NASDAQ:TELA) Director Joseph Capper Purchases 50,000 Shares

TELA Bio, Inc. (NASDAQ:TELA) Director Joseph Capper acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $1.06 per share, with a total value of $53,000.00. Following the transaction, the director owned 104,827 shares in the company, valued at $111,116.62. This represents a 91.20% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

TELA Bio Price Performance

NASDAQ:TELA opened at $1.18 on Thursday. The firm has a market cap of $53.27 million, a price-to-earnings ratio of -1.53 and a beta of 1.36. The company has a current ratio of 2.99, a quick ratio of 2.38 and a debt-to-equity ratio of 8.82. The company’s 50-day moving average is $0.78 and its two-hundred day moving average is $0.79. TELA Bio, Inc. has a 12-month low of $0.50 and a 12-month high of $1.69.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $19.29 million for the quarter, compared to analyst estimates of $20.01 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 51.53%. Research analysts expect that TELA Bio, Inc. will post -0.76 EPS for the current year.

Institutional Trading of TELA Bio

Hedge funds have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC purchased a new stake in TELA Bio in the 2nd quarter valued at about $4,420,586. Stonepine Capital Management LLC acquired a new stake in shares of TELA Bio in the second quarter worth approximately $1,996,820. Perkins Capital Management Inc. boosted its position in shares of TELA Bio by 1.5% in the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock worth $879,000 after acquiring an additional 20,910 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of TELA Bio in the second quarter worth approximately $281,000. Finally, WealthTrust Axiom LLC grew its holdings in TELA Bio by 39.1% in the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock valued at $381,000 after purchasing an additional 90,650 shares during the period. 94.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TELA Bio in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.20.

About TELA Bio

TELA Bio, Inc is a medical technology company focused on developing and commercializing implantable products for soft-tissue reconstruction. Its products are designed to support the repair and reinforcement of damaged or weakened soft tissue, including tissue affected by hernias, abdominal wall defects and other reconstructive procedures.

The company’s principal product platform is OviTex Reinforced Tissue Matrix, a family of biologic implants that combines extracellular matrix tissue with a polymer reinforcement structure.