TELA Bio, Inc. (NASDAQ:TELA) Holdings Lowered by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC trimmed its stake in shares of TELA Bio, Inc. (NASDAQ:TELA) by 50.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,700 shares of the company’s stock after selling 52,300 shares during the period. Bridgeway Capital Management LLC owned about 0.13% of TELA Bio worth $153,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Silverarc Capital Management LLC lifted its holdings in shares of TELA Bio by 172.5% during the fourth quarter. Silverarc Capital Management LLC now owns 3,065,649 shares of the company’s stock valued at $9,258,000 after purchasing an additional 1,940,721 shares during the last quarter. AIGH Capital Management LLC lifted its holdings in shares of TELA Bio by 7.8% during the fourth quarter. AIGH Capital Management LLC now owns 2,662,785 shares of the company’s stock valued at $8,042,000 after purchasing an additional 193,412 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of TELA Bio during the fourth quarter valued at $3,020,000. Pentwater Capital Management LP lifted its holdings in shares of TELA Bio by 100.0% during the fourth quarter. Pentwater Capital Management LP now owns 1,000,000 shares of the company’s stock valued at $3,020,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Perkins Capital Management Inc. lifted its holdings in shares of TELA Bio by 303.1% during the fourth quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock valued at $2,742,000 after purchasing an additional 682,665 shares during the last quarter. 94.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TELA shares. Canaccord Genuity Group reduced their target price on TELA Bio from $12.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 21st. Piper Sandler lowered TELA Bio from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $5.00 to $2.00 in a research report on Friday, March 21st.

TELA Bio Trading Down 3.0%

Shares of NASDAQ TELA opened at $0.98 on Wednesday. TELA Bio, Inc. has a one year low of $0.86 and a one year high of $6.50. The firm has a market capitalization of $38.76 million, a PE ratio of -0.58 and a beta of 0.67. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22. The business has a 50-day moving average price of $1.31 and a two-hundred day moving average price of $2.29.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. The business had revenue of $18.52 million for the quarter, compared to analyst estimates of $17.35 million. As a group, analysts predict that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.

TELA Bio 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.