Paul Talmo Purchases 22,222 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) CTO Paul Talmo purchased 22,222 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $2.25 per share, with a total value of $49,999.50. Following the acquisition, the chief technology officer now directly owns 91,082 shares in the company, valued at $204,934.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TELA Bio Trading Down 2.6 %

NASDAQ TELA traded down $0.07 during trading on Thursday, hitting $2.58. The stock had a trading volume of 540,218 shares, compared to its average volume of 184,861. The stock has a market capitalization of $63.75 million, a price-to-earnings ratio of -1.50 and a beta of 0.99. The stock has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $4.16. TELA Bio, Inc. has a one year low of $2.30 and a one year high of $7.84. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). TELA Bio had a negative net margin of 65.04% and a negative return on equity of 252.57%. The business had revenue of $16.09 million for the quarter, compared to analysts’ expectations of $19.00 million. During the same quarter in the previous year, the firm earned ($0.46) EPS. Sell-side analysts predict that TELA Bio, Inc. will post -1.39 earnings per share for the current year.

Analyst Ratings Changes

TELA has been the topic of several recent research reports. Canaccord Genuity Group restated a “buy” rating and set a $12.00 target price on shares of TELA Bio in a research report on Friday, October 4th. Piper Sandler lowered their price objective on TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. JMP Securities dropped their target price on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th. Finally, Lake Street Capital lowered their price target on TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in TELA Bio during the 2nd quarter valued at about $25,000. Embree Financial Group purchased a new position in shares of TELA Bio during the third quarter worth approximately $25,000. Ground Swell Capital LLC bought a new stake in shares of TELA Bio during the second quarter valued at approximately $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TELA Bio in the second quarter valued at approximately $115,000. Finally, Los Angeles Capital Management LLC bought a new position in TELA Bio in the second quarter worth approximately $131,000. 94.35% of the stock is currently owned by institutional investors.

TELA Bio Company Profile

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.