Insider Buying: TELA Bio (NASDAQ:TELA) Director Buys $25,500.00 in Stock

TELA Bio, Inc. (NASDAQ:TELAGet Free Report) Director Joseph Capper purchased 25,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was purchased at an average price of $1.02 per share, for a total transaction of $25,500.00. Following the transaction, the director directly owned 54,827 shares in the company, valued at approximately $55,923.54. This trade represents a 83.82% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

TELA Bio Trading Down 3.1%

TELA opened at $1.25 on Friday. TELA Bio, Inc. has a twelve month low of $0.50 and a twelve month high of $1.69. 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 company has a fifty day moving average of $0.79 and a 200-day moving average of $0.80. The stock has a market cap of $56.42 million, a PE ratio of -1.62 and a beta of 1.36.

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

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

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

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About TELA Bio

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TELA Bio, Inc is a medical technology company focused on developing and commercializing implantable products for soft-tissue reconstruction. Its products are designed to support the repair and reinforcement of damaged or weakened soft tissue, including tissue affected by hernias, abdominal wall defects and other reconstructive procedures.

The company’s principal product platform is OviTex Reinforced Tissue Matrix, a family of biologic implants that combines extracellular matrix tissue with a polymer reinforcement structure.

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