Stonepine Capital Management LLC Acquires Shares of 2,662,427 TELA Bio, Inc. $TELA

Stonepine Capital Management LLC acquired a new position in TELA Bio, Inc. (NASDAQ:TELA) during the second quarter, HoldingsChannel reports. The institutional investor acquired 2,662,427 shares of the company’s stock, valued at approximately $1,996,820,000. TELA Bio makes up about 1.1% of Stonepine Capital Management LLC’s holdings, making the stock its 27th biggest position. Stonepine Capital Management LLC owned 0.06% of TELA Bio at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Essex Woodlands Management Inc. raised its holdings in TELA Bio by 87.7% in the fourth quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock worth $9,103,000 after buying an additional 3,604,000 shares during the last quarter. Perkins Capital Management Inc. lifted its holdings in TELA Bio by 67.6% during the fourth quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock valued at $1,649,000 after purchasing an additional 563,490 shares in the last quarter. BlackRock Inc. bought a new stake in TELA Bio during the 2nd quarter valued at approximately $281,000. Renaissance Technologies LLC increased its holdings in shares of TELA Bio by 101.4% in the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock worth $152,000 after purchasing an additional 64,800 shares during the last quarter. Finally, Susquehanna International Group LLP grew its stake in shares of 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 buying an additional 72,594 shares in the last quarter. 94.35% of the stock is currently owned by institutional investors.

TELA Bio Trading Down 5.9%

Shares of TELA Bio stock opened at $0.65 on Friday. The firm’s 50 day simple moving average is $0.74 and its two-hundred day simple moving average is $0.78. The firm has a market capitalization of $29.18 million, a price-to-earnings ratio of -0.84 and a beta of 1.34. TELA Bio, Inc. has a 12-month low of $0.50 and a 12-month high of $1.87. The company has a current ratio of 2.99, a quick ratio of 2.38 and a debt-to-equity ratio of 8.82.

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

Analyst Upgrades and Downgrades

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

TELA Bio Company Profile

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.