Stonepine Capital Management LLC purchased a new position in shares of TELA Bio, Inc. (NASDAQ:TELA – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,662,427 shares of the company’s stock, valued at approximately $1,996,820,000. TELA Bio accounts for 1.1% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Stonepine Capital Management LLC owned 5.93% of TELA Bio as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Citadel Advisors LLC lifted its stake in shares of TELA Bio by 161.3% in the 3rd quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after purchasing an additional 21,781 shares during the period. XTX Topco Ltd bought a new position in TELA Bio during the fourth quarter worth $48,000. Susquehanna International Group LLP grew its holdings in TELA Bio by 551.2% in the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after purchasing an additional 72,594 shares during the period. UP Strategic Wealth Investment Advisors LLC acquired a new stake in TELA Bio in the second quarter worth $91,000. Finally, Renaissance Technologies LLC increased its stake in TELA Bio by 101.4% in the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after purchasing an additional 64,800 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.
TELA Bio Stock Down 5.9%
Shares of NASDAQ TELA opened at $0.65 on Friday. The business’s fifty day moving average price is $0.74 and its 200-day moving average price is $0.78. TELA Bio, Inc. has a one year low of $0.50 and a one year high of $1.87. The stock has a market capitalization of $29.18 million, a PE ratio of -0.84 and a beta of 1.34. The company has a debt-to-equity ratio of 8.82, a current ratio of 2.99 and a quick ratio of 2.38.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TELA Bio in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.20.
Get Our Latest Stock Report on TELA
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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