Destiny Wealth Partners LLC Takes Position in TELA Bio, Inc. $TELA

Destiny Wealth Partners LLC bought a new position in TELA Bio, Inc. (NASDAQ:TELA) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 52,500 shares of the company’s stock, valued at approximately $102,000. Destiny Wealth Partners LLC owned 0.13% of TELA Bio as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TELA. Velan Capital Investment Management LP purchased a new stake in TELA Bio in the 1st quarter worth about $912,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of TELA Bio during the first quarter worth $244,000. Birchview Capital LP lifted its stake in shares of TELA Bio by 24.0% during the first quarter. Birchview Capital LP now owns 155,000 shares of the company’s stock worth $189,000 after buying an additional 30,000 shares during the period. Northern Trust Corp lifted its position in TELA Bio by 50.6% during the fourth quarter. Northern Trust Corp now owns 47,181 shares of the company’s stock valued at $142,000 after purchasing an additional 15,856 shares during the period. Finally, Jane Street Group LLC increased its holdings in TELA Bio by 30.5% in the fourth 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. Institutional investors own 94.35% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of 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 Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.50.

TELA Bio Stock Down 2.0%

Shares of NASDAQ:TELA opened at $1.45 on Friday. The company has a market cap of $57.45 million, a price-to-earnings ratio of -1.29 and a beta of 0.84. TELA Bio, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $3.26. The firm’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $1.56. The company has a quick ratio of 2.59, a current ratio of 3.19 and a debt-to-equity ratio of 4.14.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). The company had revenue of $20.20 million for the quarter, compared to analysts’ expectations 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. As a group, equities research analysts predict that TELA Bio, Inc. will post -1.37 earnings per share for the current year.

About TELA Bio

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.