AIGH Capital Management LLC Sells 1,246,462 Shares of TELA Bio, Inc. (NASDAQ:TELA)

AIGH Capital Management LLC trimmed its holdings in TELA Bio, Inc. (NASDAQ:TELA - Free Report) by 46.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,416,323 shares of the company's stock after selling 1,246,462 shares during the period. TELA Bio comprises approximately 0.7% of AIGH Capital Management LLC's holdings, making the stock its 29th largest holding. AIGH Capital Management LLC owned about 3.58% of TELA Bio worth $1,728,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in TELA Bio by 91.1% during the 4th 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 position in TELA Bio by 303.1% during the 4th quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company's stock worth $2,742,000 after acquiring an additional 682,665 shares during the period. Prudential Financial Inc. acquired a new position in TELA Bio during the 4th quarter worth $57,000. JPMorgan Chase & Co. boosted its position in TELA Bio by 39,329.5% during the 4th quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company's stock worth $404,000 after acquiring an additional 133,327 shares during the period. Finally, Diametric Capital LP acquired a new position in TELA Bio during the 4th quarter worth $108,000. 94.35% of the stock is owned by institutional investors and hedge funds.

TELA Bio Stock Down 1.1%

NASDAQ:TELA traded down $0.02 during trading hours on Friday, hitting $1.93. 16,569 shares of the company's stock traded hands, compared to its average volume of 186,679. The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.40 and a current ratio of 4.22. TELA Bio, Inc. has a twelve month low of $0.86 and a twelve month high of $4.65. The stock's fifty day moving average price is $1.76 and its two-hundred day moving average price is $1.86. The firm has a market cap of $76.31 million, a P/E ratio of -1.37 and a beta of 0.90.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered 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 assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TELA Bio has an average rating of "Hold" and an average target price of $7.25.

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.