AIGH Capital Management LLC Lowers Stock Holdings in TELA Bio, Inc. (NASDAQ:TELA)

AIGH Capital Management LLC cut its stake in TELA Bio, Inc. (NASDAQ:TELA - Free Report) by 46.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,416,323 shares of the company's stock after selling 1,246,462 shares during the quarter. TELA Bio comprises approximately 0.7% of AIGH Capital Management LLC's investment portfolio, making the stock its 29th biggest position. AIGH Capital Management LLC owned about 3.58% of TELA Bio worth $1,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prudential Financial Inc. acquired a new stake in shares of TELA Bio in the 4th quarter worth $57,000. Commonwealth Equity Services LLC increased its stake in shares of TELA Bio by 91.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company's stock worth $86,000 after acquiring an additional 13,555 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of TELA Bio in the 4th quarter worth $91,000. Jane Street Group LLC increased its stake in shares of TELA Bio by 30.5% in the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company's stock worth $93,000 after acquiring an additional 7,174 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of TELA Bio by 95.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company's stock worth $95,000 after acquiring an additional 15,283 shares during the last quarter. 94.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded TELA Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.25.

TELA Bio Trading Down 3.5%

Shares of NASDAQ TELA traded down $0.07 during mid-day trading on Tuesday, reaching $1.91. 123,564 shares of the company's stock were exchanged, compared to its average volume of 203,160. The firm has a market capitalization of $75.56 million, a price-to-earnings ratio of -1.35 and a beta of 0.90. 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 52-week low of $0.86 and a 52-week high of $4.78. The company's 50-day moving average is $1.69 and its 200-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 for the quarter, compared to analysts' expectations of $17.35 million. TELA Bio had a negative return on equity of 402.45% and a negative net margin of 61.00%. Analysts expect that TELA Bio, Inc. will post -1.37 EPS 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.