Roberto Cuca Buys 64,444 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELA) CFO Roberto Cuca purchased 64,444 shares of TELA Bio stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $2.25 per share, with a total value of $144,999.00. Following the transaction, the chief financial officer now directly owns 155,388 shares in the company, valued at approximately $349,623. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

TELA Bio Stock Performance

TELA opened at $2.86 on Friday. The company has a 50 day simple moving average of $2.67 and a two-hundred day simple moving average of $4.15. The company has a debt-to-equity ratio of 14.22, a current ratio of 3.41 and a quick ratio of 2.52. The firm has a market cap of $70.51 million, a P/E ratio of -1.71 and a beta of 0.99. TELA Bio, Inc. has a 1-year low of $2.30 and a 1-year high of $7.84.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Monday, August 12th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.06). TELA Bio had a negative return on equity of 252.57% and a negative net margin of 65.04%. The firm had revenue of $16.09 million during the quarter, compared to the consensus estimate of $19.00 million. During the same period in the prior year, the company posted ($0.46) EPS. Equities analysts forecast that TELA Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TELA Bio

Hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new stake in TELA Bio during the 2nd quarter valued at approximately $25,000. Vanguard Group Inc. grew its holdings in TELA Bio by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock valued at $5,704,000 after buying an additional 7,199 shares in the last quarter. Embree Financial Group bought a new stake in shares of TELA Bio during the third quarter valued at approximately $25,000. Ground Swell Capital LLC purchased a new position in shares of TELA Bio in the second quarter worth $53,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of TELA Bio during the second quarter worth $115,000. Institutional investors own 94.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Lake Street Capital reduced their target price on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Piper Sandler reduced their price objective on TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of TELA Bio in a report on Friday, October 4th. Finally, JMP Securities cut their price target on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th.

About TELA Bio

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.