TELA Bio, Inc. (NASDAQ:TELA) Position Increased by AIGH Capital Management LLC

AIGH Capital Management LLC increased its stake in shares of TELA Bio, Inc. (NASDAQ:TELA) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,662,785 shares of the company’s stock after buying an additional 193,412 shares during the quarter. TELA Bio comprises approximately 2.5% of AIGH Capital Management LLC’s holdings, making the stock its 16th largest position. AIGH Capital Management LLC owned 6.76% of TELA Bio worth $8,042,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Royce & Associates LP acquired a new position in shares of TELA Bio during the fourth quarter valued at $3,020,000. Perkins Capital Management Inc. grew its position in TELA Bio by 303.1% in the 4th quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock worth $2,742,000 after purchasing an additional 682,665 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of TELA Bio by 39,329.5% in the fourth quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company’s stock valued at $404,000 after purchasing an additional 133,327 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of TELA Bio by 91.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock valued at $86,000 after purchasing an additional 13,555 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of TELA Bio during the fourth quarter valued at approximately $57,000. 94.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TELA Bio Trading Down 9.9 %

TELA Bio stock opened at $1.24 on Friday. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62. TELA Bio, Inc. has a 1 year low of $1.15 and a 1 year high of $6.50. The firm has a market cap of $48.64 million, a price-to-earnings ratio of -0.73 and a beta of 1.10. The firm’s 50 day moving average price is $2.42 and its two-hundred day moving average price is $2.65.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Thursday, March 20th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $17.65 million for the quarter, compared to the consensus estimate of $23.17 million. On average, research analysts predict that TELA Bio, Inc. will post -1.37 EPS for the current fiscal year.

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.