TELA Bio (NASDAQ:TELA) Director Acquires $25,500.00 in Stock

Key Points

• Director Joseph Capper purchased 25,000 TELA Bio shares at an average price of $1.02, investing $25,500 and increasing his ownership by 83.82% to 54,827 shares.
• TELA Bio shares rose 8.3% to $1.18, while the company reported weaker-than-expected quarterly results, including an EPS loss of $0.20 versus the $0.17 consensus estimate and revenue of $19.29 million versus $20.01 million expected.
• Institutional investors own 94.35% of the stock, and analysts’ average rating is “Hold” with a $2.20 price target; however, ratings range from Buy to Sell and the company remains unprofitable.

TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) Director Joseph Capper purchased 25,000 shares of the business's stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $1.02 per share, for a total transaction of $25,500.00. Following the purchase, the director owned 54,827 shares in the company, valued at $55,923.54. This trade represents a 83.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

TELA Bio Trading Up 8.3%

TELA Bio stock traded up $0.09 during mid-day trading on Wednesday, hitting $1.18. 453,536 shares of the company's stock were exchanged, compared to its average volume of 184,035. The company's 50 day simple moving average is $0.78 and its 200-day simple moving average is $0.79. The company has a quick ratio of 2.38, a current ratio of 2.99 and a debt-to-equity ratio of 8.82. The firm has a market capitalization of $52.98 million, a P/E ratio of -1.53 and a beta of 1.36. TELA Bio, Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $1.69.

TELA Bio (NASDAQ:TELA - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). TELA Bio had a negative net margin of 51.53% and a negative return on equity of 1,320.81%. The business had revenue of $19.29 million during the quarter, compared to analyst estimates of $20.01 million. On average, equities analysts anticipate that TELA Bio, Inc. will post -0.76 earnings per share for the current year.

Institutional Investors Weigh In On TELA Bio

Several institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new position in TELA Bio in the second quarter valued at approximately $4,420,586. Stonepine Capital Management LLC bought a new stake in shares of TELA Bio during the 2nd quarter worth approximately $1,996,820. BlackRock Inc. acquired a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $281,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $91,000. Finally, WealthTrust Axiom LLC lifted its stake in TELA Bio by 39.1% in the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company's stock valued at $381,000 after acquiring an additional 90,650 shares during the last quarter. 94.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of TELA Bio in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, TELA Bio has an average rating of "Hold" and an average target price of $2.20.

TELA Bio Company Profile

TELA Bio, Inc NASDAQ: TELA is a commercial‐stage medical technology company headquartered in Malvern, Pennsylvania. The company is focused on developing, manufacturing and commercializing regenerative medicine and advanced soft tissue repair solutions. By integrating proprietary biomaterials and processing technologies, TELA Bio aims to offer products that support the body's natural healing processes in wound closure, hernia repair, reconstructive surgery and other surgical specialties.

The company's product portfolio includes acellular dermal matrices, hemostatic agents and tissue scaffold systems.

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