Orbimed Advisors Llc Sells 378,000 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) major shareholder Orbimed Advisors Llc sold 378,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $4.74, for a total value of $1,791,720.00. Following the completion of the sale, the insider now directly owns 2,457,542 shares of the company’s stock, valued at approximately $11,648,749.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Monday, July 1st, Orbimed Advisors Llc sold 13,700 shares of TELA Bio stock. The shares were sold at an average price of $4.68, for a total value of $64,116.00.

TELA Bio Stock Up 2.7 %

Shares of TELA Bio stock traded up $0.12 during midday trading on Tuesday, hitting $4.61. The company had a trading volume of 276,529 shares, compared to its average volume of 161,644. The company has a debt-to-equity ratio of 2.83, a quick ratio of 3.23 and a current ratio of 4.13. The stock has a market capitalization of $113.66 million, a P/E ratio of -2.76 and a beta of 1.04. The company has a 50 day moving average of $5.34 and a 200 day moving average of $5.94. TELA Bio, Inc. has a 52-week low of $4.23 and a 52-week high of $10.84.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.25. The company had revenue of $16.60 million for the quarter, compared to the consensus estimate of $15.90 million. TELA Bio had a negative return on equity of 155.26% and a negative net margin of 63.82%. During the same quarter in the prior year, the business posted ($0.63) EPS. On average, equities analysts predict that TELA Bio, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of TELA Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Spouting Rock Asset Management LLC grew its stake in shares of TELA Bio by 51.7% in the 3rd quarter. Spouting Rock Asset Management LLC now owns 21,497 shares of the company’s stock worth $172,000 after buying an additional 7,326 shares during the last quarter. Trexquant Investment LP purchased a new stake in TELA Bio during the 4th quarter valued at $109,000. AIGH Capital Management LLC boosted its stake in TELA Bio by 10.0% during the 4th quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company’s stock valued at $9,122,000 after purchasing an additional 125,000 shares during the last quarter. Worth Venture Partners LLC boosted its stake in TELA Bio by 9.9% during the 4th quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock valued at $2,286,000 after purchasing an additional 31,111 shares during the last quarter. Finally, Perkins Capital Management Inc. boosted its stake in TELA Bio by 10.4% during the 4th quarter. Perkins Capital Management Inc. now owns 210,250 shares of the company’s stock valued at $1,392,000 after purchasing an additional 19,750 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Wall Street Analyst Weigh In

TELA has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $10.00 target price (down previously from $12.00) on shares of TELA Bio in a research note on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and set a $15.00 target price on shares of TELA Bio in a report on Friday, March 22nd.

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.