Stonepine Capital Management LLC Grows Stock Position in TELA Bio, Inc. (NASDAQ:TELA)

Stonepine Capital Management LLC raised its holdings in TELA Bio, Inc. (NASDAQ:TELA) by 112.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,353,099 shares of the company’s stock after acquiring an additional 1,243,099 shares during the period. TELA Bio comprises 5.7% of Stonepine Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Stonepine Capital Management LLC owned approximately 5.97% of TELA Bio worth $7,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in TELA Bio by 39,329.5% in the fourth quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company’s stock valued at $404,000 after acquiring an additional 133,327 shares during the last quarter. Renaissance Technologies LLC grew its position in TELA Bio by 185.5% in the fourth quarter. Renaissance Technologies LLC now owns 425,140 shares of the company’s stock valued at $1,284,000 after acquiring an additional 276,240 shares during the last quarter. Geode Capital Management LLC grew its position in TELA Bio by 78.4% in the fourth quarter. Geode Capital Management LLC now owns 311,405 shares of the company’s stock valued at $941,000 after acquiring an additional 136,890 shares during the last quarter. Perkins Capital Management Inc. grew its position in TELA Bio by 303.1% in the fourth quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock valued at $2,742,000 after acquiring an additional 682,665 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in TELA Bio in the fourth quarter valued at about $57,000. Institutional investors own 94.35% of the company’s stock.

TELA Bio Trading Up 12.2%

TELA opened at $1.10 on Friday. TELA Bio, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $6.50. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. The firm has a market capitalization of $43.51 million, a price-to-earnings ratio of -0.65 and a beta of 0.67. The company’s 50 day moving average price is $1.23 and its two-hundred day moving average price is $2.25.

TELA Bio (NASDAQ:TELA) last posted its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share 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 the consensus estimate of $17.35 million. As a group, research analysts predict that TELA Bio, Inc. will post -1.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on TELA. Canaccord Genuity Group decreased their target price on TELA Bio from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Piper Sandler downgraded shares of TELA Bio from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $5.00 to $2.00 in a research report on Friday, March 21st.

TELA Bio Company 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.