Key Points
- CEO Heather Getz bought 15,000 TELA Bio shares at an average price of $0.70, investing $10,500 and increasing her direct ownership to 520,000 shares.
- TELA Bio reported a quarterly loss of $0.20 per share, missing estimates by $0.03, while revenue of $19.29 million also fell short of the $20.01 million consensus forecast.
- The stock opened at $0.65, near its 52-week low, and analysts have a consensus “Hold” rating with a $2.20 price target; institutional investors own 94.35% of the company.
TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) CEO Heather Getz bought 15,000 shares of TELA Bio stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $0.70 per share, for a total transaction of $10,500.00. Following the completion of the transaction, the chief executive officer directly owned 520,000 shares in the company, valued at $364,000. This represents a 2.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
TELA Bio Stock Performance
Shares of NASDAQ TELA opened at $0.65 on Tuesday. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.38 and a current ratio of 2.99. TELA Bio, Inc. has a 1 year low of $0.50 and a 1 year high of $2.00. The company's fifty day moving average price is $0.78 and its 200 day moving average price is $0.80. The company has a market capitalization of $29.18 million, a PE ratio of -0.84 and a beta of 1.34.
TELA Bio (NASDAQ:TELA - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.20) 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 analysts' expectations of $20.01 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 51.53%. On average, research analysts predict that TELA Bio, Inc. will post -0.76 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in TELA. Essex Woodlands Management Inc. lifted its position in shares of TELA Bio by 87.7% during the 4th quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company's stock worth $9,103,000 after buying an additional 3,604,000 shares during the last quarter. Perkins Capital Management Inc. grew its position in shares of TELA Bio by 67.6% in the 4th quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company's stock valued at $1,649,000 after buying an additional 563,490 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in TELA Bio during the 2nd quarter worth $1,996,820,000. Renaissance Technologies LLC raised its stake in TELA Bio by 101.4% during the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company's stock worth $152,000 after acquiring an additional 64,800 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its position in TELA Bio by 551.2% in the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company's stock valued at $128,000 after acquiring an additional 72,594 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of TELA Bio in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $2.20.
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About TELA Bio
(
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TELA Bio, Inc (NASDAQ: TELA) is a commercial‐stage medical technology company headquartered in Malvern, Pennsylvania. The company is focused on developing, manufacturing and commercializing regenerative medicine and advanced soft tissue repair solutions. By integrating proprietary biomaterials and processing technologies, TELA Bio aims to offer products that support the body's natural healing processes in wound closure, hernia repair, reconstructive surgery and other surgical specialties.
The company's product portfolio includes acellular dermal matrices, hemostatic agents and tissue scaffold systems.
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