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

AIGH Capital Management LLC lowered its position in TELA Bio, Inc. (NASDAQ:TELA - Free Report) by 46.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,416,323 shares of the company's stock after selling 1,246,462 shares during the quarter. TELA Bio accounts for approximately 0.7% of AIGH Capital Management LLC's investment portfolio, 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. acquired a new position in shares of TELA Bio in the fourth quarter valued at approximately $57,000. Commonwealth Equity Services LLC increased its position in TELA Bio by 91.1% during the 4th 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. Walleye Capital LLC acquired a new stake in TELA Bio during the 4th quarter valued at approximately $91,000. Jane Street Group LLC grew its position in shares of TELA Bio by 30.5% during the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company's stock worth $93,000 after buying an additional 7,174 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of TELA Bio by 95.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company's stock worth $95,000 after buying an additional 15,283 shares during the period. Institutional investors and hedge funds own 94.35% of the company's stock.

Wall Street Analyst Weigh In

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

TELA Bio Stock Up 0.5%

TELA stock traded up $0.01 during midday trading on Thursday, hitting $1.95. The stock had a trading volume of 20,166 shares, compared to its average volume of 187,921. The firm has a market cap of $77.14 million, a price-to-earnings ratio of -1.38 and a beta of 0.90. The business has a 50-day moving average of $1.74 and a two-hundred day moving average of $1.87. TELA Bio, Inc. has a 52-week low of $0.86 and a 52-week high of $4.70. The company has a debt-to-equity ratio of 2.28, a current ratio of 4.22 and a quick ratio of 3.40.

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 (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). TELA Bio had a negative net margin of 61.00% and a negative return on equity of 402.45%. The company had revenue of $18.52 million for the quarter, compared to the consensus estimate of $17.35 million. As a group, equities research analysts forecast that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.

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.