Ground Swell Capital LLC Takes $53,000 Position in TELA Bio, Inc. (NASDAQ:TELA)

Ground Swell Capital LLC purchased a new position in TELA Bio, Inc. (NASDAQ:TELA) in the second quarter, Holdings Channel reports. The fund purchased 11,319 shares of the company’s stock, valued at approximately $53,000.

A number of other hedge funds also recently bought and sold shares of TELA. Vanguard Group Inc. increased its holdings in TELA Bio by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company’s stock worth $5,704,000 after acquiring an additional 7,199 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of TELA Bio in the fourth quarter valued at about $109,000. Los Angeles Capital Management LLC acquired a new stake in shares of TELA Bio in the second quarter valued at about $131,000. Worth Venture Partners LLC increased its stake in shares of TELA Bio by 9.9% during the fourth quarter. Worth Venture Partners LLC now owns 345,331 shares of the company’s stock worth $2,286,000 after purchasing an additional 31,111 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of TELA Bio by 107.6% during the 1st quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock worth $538,000 after purchasing an additional 49,204 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Analyst Ratings Changes

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

TELA Bio Trading Down 3.6 %

Shares of TELA Bio stock opened at $2.64 on Wednesday. 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 stock’s 50 day simple moving average is $3.80 and its 200-day simple moving average is $4.86. The stock has a market cap of $65.23 million, a P/E ratio of -1.58 and a beta of 1.00. TELA Bio, Inc. has a 1-year low of $2.54 and a 1-year high of $9.02.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $16.09 million for the quarter, compared to analyst estimates of $19.00 million. During the same period last year, the firm posted ($0.46) EPS. Analysts predict that TELA Bio, Inc. will post -1.39 EPS for the current fiscal year.

Insider Activity at TELA Bio

In other TELA Bio news, major shareholder Orbimed Advisors Llc sold 13,700 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.68, for a total value of $64,116.00. Following the transaction, the insider now directly owns 2,443,842 shares in the company, valued at approximately $11,437,180.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is currently owned by insiders.

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.