Perkins Capital Management Inc. Buys 20,850 Shares of TELA Bio, Inc. (NASDAQ:TELA)

Perkins Capital Management Inc. lifted its stake in shares of TELA Bio, Inc. (NASDAQ:TELA) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 225,200 shares of the company’s stock after purchasing an additional 20,850 shares during the period. Perkins Capital Management Inc. owned 0.91% of TELA Bio worth $570,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of TELA Bio in the second quarter worth about $25,000. Embree Financial Group purchased a new position in shares of TELA Bio in the third quarter worth $25,000. Ground Swell Capital LLC bought a new stake in TELA Bio during the 2nd quarter valued at $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of TELA Bio during the second quarter worth about $115,000. Finally, Los Angeles Capital Management LLC purchased a new position in TELA Bio during the 2nd quarter valued at about $131,000. 94.35% of the stock is currently owned by institutional investors.

Insider Transactions at TELA Bio

In other news, CFO Roberto Cuca acquired 64,444 shares of TELA Bio stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $2.25 per share, with a total value of $144,999.00. Following the purchase, the chief financial officer now directly owns 155,388 shares in the company, valued at $349,623. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other TELA Bio news, CFO Roberto Cuca purchased 64,444 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $2.25 per share, with a total value of $144,999.00. Following the acquisition, the chief financial officer now owns 155,388 shares in the company, valued at approximately $349,623. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Antony Koblish acquired 88,888 shares of TELA Bio stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $199,998.00. Following the completion of the purchase, the chief executive officer now directly owns 458,897 shares of the company’s stock, valued at $1,032,518.25. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 182,220 shares of company stock valued at $409,995. 6.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on TELA. Piper Sandler cut their price objective on TELA Bio from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. JMP Securities lowered their price target on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th. Canaccord Genuity Group reiterated a “buy” rating and set a $12.00 price target on shares of TELA Bio in a research note on Friday, October 4th. Finally, Lake Street Capital cut their price target on TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.

TELA Bio Stock Performance

NASDAQ TELA opened at $3.02 on Thursday. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 14.22. TELA Bio, Inc. has a twelve month low of $2.30 and a twelve month high of $7.84. The business has a 50-day moving average price of $2.65 and a 200-day moving average price of $4.01. The firm has a market cap of $74.64 million, a price-to-earnings ratio of -1.76 and a beta of 0.97.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). TELA Bio had a negative net margin of 65.04% and a negative return on equity of 252.57%. The company had revenue of $16.09 million for the quarter, compared to analysts’ expectations of $19.00 million. During the same period last year, the business earned ($0.46) earnings per share. As a group, equities research analysts predict that TELA Bio, Inc. will post -1.39 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.