Key Points
- Ew Healthcare Partners Fund 2 bought 3,604,000 shares of TELA at an average price of $1.11 per share for a total of $4,000,440, increasing its stake to 7,714,709 shares (an 87.67% increase), as disclosed on an SEC Form 4.
- TELA reported Q3 EPS of ($0.19), missing estimates and posting a negative return on equity (209.8%) and negative net margin (50.61%), with revenue of $20.69 million versus $21.78 million expected.
- The stock jumped about 14.1% on the news; the company has a market cap near $45.2 million and analysts are mixed, with a consensus "Hold" rating and an average price target of $4.42 after recent downgrades and cuts.
TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) major shareholder Ew Healthcare Partners Fund 2, bought 3,604,000 shares of the stock in a transaction on Monday, November 17th. The shares were acquired at an average cost of $1.11 per share, with a total value of $4,000,440.00. Following the purchase, the insider owned 7,714,709 shares of the company's stock, valued at approximately $8,563,326.99. This represents a 87.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
TELA Bio Trading Up 14.1%
TELA opened at $1.14 on Tuesday. The company has a market cap of $45.17 million, a P/E ratio of -1.28 and a beta of 0.89. The company has a current ratio of 3.19, a quick ratio of 2.59 and a debt-to-equity ratio of 4.14. The company's 50 day moving average is $1.43 and its 200-day moving average is $1.59. TELA Bio, Inc. has a 1-year low of $0.86 and a 1-year high of $3.20.
TELA Bio (NASDAQ:TELA - Get Free Report) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). TELA Bio had a negative return on equity of 209.80% and a negative net margin of 50.61%.The company had revenue of $20.69 million for the quarter, compared to analyst estimates of $21.78 million. TELA Bio has set its FY 2025 guidance at EPS. Equities research analysts predict that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of TELA Bio in a report on Wednesday, October 8th. Citizens Jmp dropped their target price on TELA Bio from $7.00 to $5.00 and set a "market outperform" rating for the company in a research report on Friday. Finally, Piper Sandler reissued a "neutral" rating and set a $1.25 price target (down from $2.00) on shares of TELA Bio in a research note on Friday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $4.42.
Read Our Latest Stock Report on TELA
Institutional Trading of TELA Bio
Institutional investors and hedge funds have recently bought and sold shares of the stock. Velan Capital Investment Management LP bought a new position in TELA Bio during the 1st quarter worth $912,000. Paradigm Capital Management Inc. NY acquired a new stake in TELA Bio during the first quarter worth approximately $244,000. Birchview Capital LP grew its position in shares of TELA Bio by 24.0% during the 1st quarter. Birchview Capital LP now owns 155,000 shares of the company's stock worth $189,000 after buying an additional 30,000 shares during the period. Destiny Wealth Partners LLC bought a new stake in TELA Bio in the second quarter valued at $102,000. Finally, Solstein Capital LLC bought a new stake in TELA Bio in the 2nd quarter valued at about $32,000. 94.35% of the stock is currently owned by institutional investors and hedge funds.
About TELA Bio
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
