Stonepine Capital Management LLC Lowers Holdings in TELA Bio, Inc. $TELA

Key Points

• Stonepine Capital Management LLC reduced its stake in TELA Bio, Inc. by 12.7%, now holding approximately 2,055,225 shares valued at $2.51 million, which makes up 2.4% of its investment portfolio.
• Multiple institutional investors have increased their positions in TELA Bio, with Jane Street Group raising its stake by 30.5% and Cubist Systematic Strategies increasing theirs by 95.3% in the most recent quarter.
• TELA Bio's shares were recently downgraded from "hold" to "sell," with the company facing a consensus rating of "Moderate Buy" and a price target of $4.50 despite reporting a quarterly EPS loss of ($0.22).

Stonepine Capital Management LLC trimmed its position in shares of TELA Bio, Inc. (NASDAQ:TELA - Free Report) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,055,225 shares of the company's stock after selling 297,874 shares during the period. TELA Bio comprises 2.4% of Stonepine Capital Management LLC's investment portfolio, making the stock its 15th largest position. Stonepine Capital Management LLC owned 5.20% of TELA Bio worth $2,507,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TELA. Walleye Capital LLC purchased a new position in shares of TELA Bio during the 4th quarter valued at about $91,000. Jane Street Group LLC raised its holdings 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 valued at $93,000 after buying an additional 7,174 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in 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 purchasing an additional 15,283 shares during the period. Northern Trust Corp increased its stake in TELA Bio by 50.6% in the 4th quarter. Northern Trust Corp now owns 47,181 shares of the company's stock worth $142,000 after purchasing an additional 15,856 shares during the period. Finally, Birchview Capital LP purchased a new position in TELA Bio in the 4th quarter worth approximately $378,000. 94.35% of the stock is owned by hedge funds and other institutional investors.

TELA Bio Trading Down 1.1%

Shares of TELA stock traded down $0.02 during trading hours on Friday, reaching $1.78. The company's stock had a trading volume of 21,660 shares, compared to its average volume of 172,515. The stock has a market capitalization of $70.52 million, a P/E ratio of -1.59 and a beta of 0.93. TELA Bio, Inc. has a one year low of $0.86 and a one year high of $3.26. The firm's fifty day simple moving average is $1.86 and its 200 day simple moving average is $1.70. The company has a current ratio of 3.19, a quick ratio of 2.59 and a debt-to-equity ratio of 4.14.

TELA Bio (NASDAQ:TELA - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.04). The business had revenue of $20.20 million during the quarter, compared to the consensus estimate of $20.67 million. TELA Bio had a negative return on equity of 329.48% and a negative net margin of 54.12%. TELA Bio has set its FY 2025 guidance at EPS. Equities research analysts expect that TELA Bio, Inc. will post -1.37 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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 Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.50.

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.