TELA Bio, Inc. (NASDAQ: TELA) Major Stockholder Buys $33,679.80 in Shares

Opaleye Management Inc., principal shareholder of TELA Bio, Inc. (NASDAQ:TELA – Get Rating), acquired 4,158 shares of the company in a transaction dated Thursday, September 15. The shares were purchased at an average cost of $8.10 per share, for a total transaction of $33,679.80. Following the purchase, the insider now directly owns 1,888,500 shares of the company, valued at approximately $15,296,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Large shareholders who hold more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. has also recently made the following trade(s):

  • On Tuesday August 16, Opaleye Management Inc. acquired 315,000 shares of TELA Bio stock. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $2,520,000.00.
  • On Wednesday August 10, Opaleye Management Inc. acquired 11,979 shares of TELA Bio stock. The shares were purchased at an average cost of $8.52 per share, for a total transaction of $102,061.08.
  • On Monday, August 1, Opaleye Management Inc. purchased 4,979 shares of TELA Bio stock. The shares were purchased at an average cost of $7.96 per share, for a total transaction of $39,632.84.
  • On Friday July 22, Opaleye Management Inc. purchased 5,200 shares of TELA Bio stock. The shares were purchased at an average cost of $8.02 per share, for a total transaction of $41,704.00.
  • On Wednesday July 20, Opaleye Management Inc. purchased 5,100 shares of TELA Bio stock. The shares were purchased at an average cost of $8.08 per share, for a total transaction of $41,208.00.
  • On Friday July 1, Opaleye Management Inc. purchased 200 shares of TELA Bio stock. The shares were acquired at an average price of $7.00 per share, for a total transaction of $1,400.00.
  • On Wednesday June 29, Opaleye Management Inc. purchased 2 shares of TELA Bio stock. The shares were acquired at an average price of $6.99 per share, for a total transaction of $13.98.
  • On Wednesday, June 22, Opaleye Management Inc. purchased 50,000 shares of TELA Bio stock. The shares were acquired at an average price of $6.50 per share, for a total transaction of $325,000.00.

TELA Bio stock down 2.1%

The NASDAQ TELA fell $0.18 on Friday, hitting $8.25. The stock had a trading volume of 65,062 shares, compared to an average volume of 61,710. The company has a 50-day moving average price of $8.35 and a 200-day moving average price of 8.92 $. The company has a current ratio of 3.83, a quick ratio of 2.96 and a debt ratio of 3.15. TELA Bio, Inc. has a 1 year minimum of $5.15 and a 1 year maximum of $14.00. The company has a market capitalization of $120.11 million, a price-earnings ratio of -3.02 and a beta of 1.41.

TELA Bio (NASDAQ:TELA – Get Rating) last released its results on Wednesday, August 10. The company reported ($0.80) EPS for the quarter, missing analyst consensus estimates of ($0.60) by ($0.20). TELA Bio had a negative net margin of 116.80% and a negative return on equity of 278.82%. The company posted revenue of $10.41 million in the quarter, compared to $10.25 million expected by analysts. In the same quarter last year, the company achieved EPS of ($0.57). On average, analysts expect TELA Bio, Inc. to post -2.67 EPS for the current fiscal year.

Institutional entries and exits

A number of institutional investors and hedge funds have recently bought and sold shares of TELA. Renaissance Technologies LLC purchased a new stake in TELA Bio stock during Q2 for approximately $83,000. Millennium Management LLC purchased a new equity stake in TELA Bio during Q2 for a value of approximately $272,000. State Street Corp increased its equity stake in TELA Bio by 9.1% in Q1. State Street Corp now owns 26,065 shares of the company worth $303,000 after acquiring 2,167 additional shares in the last quarter. WMS Partners LLC purchased a new equity stake in TELA Bio during Q1 for approximately $327,000. Finally, Parkman Healthcare Partners LLC increased its position in TELA Bio shares by 4.0% in the 1st quarter. Parkman Healthcare Partners LLC now owns 108,504 shares of the company worth $1,262,000 after purchasing an additional 4,222 shares in the last quarter.

Changes to analyst ratings

A number of research analysts have weighed in on the company recently. JMP Securities reiterated a “buy” rating and set a price target of $22.00 on TELA Bio shares in a Wednesday, June 1 report. Lake Street Capital assumed coverage for TELA Bio in a Tuesday, May 31 report. They set a “buy” rating and a price target of $17.00 on the stock.

TELA Bio company profile

(Get an evaluation)

TELA Bio, Inc., a commercial-stage medical technology company, is focused on providing soft tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of patient anatomy. It offers a portfolio of OviTex (OviTex) tissue-enhanced matrix products for hernia repair and abdominal wall reconstruction; and OviTex PRS Reinforced Tissue Matrix products to address unmet needs in plastic and reconstructive surgery, as well as OviTex for Laparoscopic and Robotic Procedures, a sterile ovine rumen-derived reinforced tissue matrix with polypropylene fiber for use in the laparoscopic and robot-assisted surgery surgical repairs of hernias.

Featured Articles

Insider buying and selling by quarter for TELA Bio (NASDAQ:TELA)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider TELA Bio, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and TELA Bio wasn’t on the list.

While TELA Bio currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.