Insider Buying: TELA Bio (NASDAQ:TELA) CEO Buys $10,500.00 in Stock

TELA Bio, Inc. (NASDAQ:TELA) CEO Heather Getz acquired 15,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $0.70 per share, with a total value of $10,500.00. Following the transaction, the chief executive officer directly owned 520,000 shares in the company, valued at approximately $364,000. The trade was a 2.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

TELA Bio Stock Performance

Shares of NASDAQ TELA opened at $0.65 on Thursday. 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 stock has a market capitalization of $29.05 million, a price-to-earnings ratio of -0.84 and a beta of 1.34. The stock’s fifty day simple moving average is $0.77 and its 200 day simple moving average is $0.79. TELA Bio, Inc. has a 52-week low of $0.50 and a 52-week high of $2.00.

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

Institutional Trading of TELA Bio

Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC boosted its position in shares of TELA Bio by 161.3% in the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after buying an additional 21,781 shares during the period. XTX Topco Ltd acquired a new position in TELA Bio during the fourth quarter valued at $48,000. Susquehanna International Group LLP lifted its stake in TELA Bio by 551.2% in the 3rd quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after acquiring an additional 72,594 shares in the last quarter. UP Strategic Wealth Investment Advisors LLC purchased a new stake in TELA Bio in the 2nd quarter worth about $91,000. Finally, Renaissance Technologies LLC boosted its position in TELA Bio by 101.4% during the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock worth $152,000 after acquiring an additional 64,800 shares during the period. 94.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TELA Bio in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.20.

About TELA Bio

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.