TELA Bio (NASDAQ:TELA) Director Purchases 50,000 Shares of Stock

TELA Bio, Inc. (NASDAQ:TELA) Director Joseph Capper acquired 50,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were bought at an average cost of $1.06 per share, for a total transaction of $53,000.00. Following the acquisition, the director owned 104,827 shares in the company, valued at $111,116.62. The trade was a 91.20% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

TELA Bio Stock Performance

TELA traded up $0.09 on Wednesday, hitting $1.18. The company had a trading volume of 453,536 shares, compared to its average volume of 184,035. The company’s fifty day moving average price is $0.78 and its 200 day moving average price is $0.79. TELA Bio, Inc. has a 1-year low of $0.50 and a 1-year high of $1.69. The company has a debt-to-equity ratio of 8.82, a current ratio of 2.99 and a quick ratio of 2.38. The stock has a market cap of $52.98 million, a price-to-earnings ratio of -1.53 and a beta of 1.36.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 company had revenue of $19.29 million for the quarter, compared to analyst estimates of $20.01 million. Equities analysts predict that TELA Bio, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELA Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC bought a new position in TELA Bio during the second quarter worth $4,420,586. Stonepine Capital Management LLC bought a new stake in TELA Bio in the 2nd quarter valued at $1,996,820. BlackRock Inc. acquired a new stake in TELA Bio in the 2nd quarter worth $281,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in TELA Bio in the 2nd quarter worth $91,000. Finally, Perkins Capital Management Inc. increased its holdings in shares of TELA Bio by 1.5% during the 1st quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock worth $879,000 after purchasing an additional 20,910 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About TELA Bio

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.