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
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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.
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