TELA Bio, Inc. (NASDAQ:TELA) Shares Sold by AIGH Capital Management LLC

AIGH Capital Management LLC cut its position in TELA Bio, Inc. (NASDAQ:TELA - Free Report) by 46.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,416,323 shares of the company's stock after selling 1,246,462 shares during the period. TELA Bio makes up 0.7% of AIGH Capital Management LLC's holdings, making the stock its 29th largest position. AIGH Capital Management LLC owned approximately 3.58% of TELA Bio worth $1,728,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TELA. Commonwealth Equity Services LLC boosted 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 worth $86,000 after buying an additional 13,555 shares during the last quarter. Perkins Capital Management Inc. boosted its stake in shares of TELA Bio by 303.1% in the fourth quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company's stock worth $2,742,000 after buying an additional 682,665 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of TELA Bio in the fourth quarter worth about $57,000. JPMorgan Chase & Co. boosted 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 worth $404,000 after buying an additional 133,327 shares during the last quarter. Finally, Diametric Capital LP purchased a new stake in shares of TELA Bio in the fourth quarter worth about $108,000. Hedge funds and other institutional investors own 94.35% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut TELA Bio from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.25.

TELA Bio Price Performance

NASDAQ TELA traded up $0.03 during trading hours on Wednesday, reaching $1.94. The company's stock had a trading volume of 17,932 shares, compared to its average volume of 201,990. The firm has a market capitalization of $76.74 million, a price-to-earnings ratio of -1.38 and a beta of 0.90. TELA Bio, Inc. has a 1-year low of $0.86 and a 1-year high of $4.78. The company has a debt-to-equity ratio of 2.28, a current ratio of 4.22 and a quick ratio of 3.40. The company's 50-day moving average is $1.69 and its two-hundred day moving average is $1.88.

TELA Bio (NASDAQ:TELA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.04). The business had revenue of $18.52 million during the quarter, compared to analyst estimates of $17.35 million. TELA Bio had a negative return on equity of 402.45% and a negative net margin of 61.00%. On average, equities analysts predict that TELA Bio, Inc. will post -1.37 EPS for the current year.

TELA Bio 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.