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

Stonepine Capital Management LLC bought a new stake in TELA Bio, Inc. (NASDAQ:TELA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,662,427 shares of the company’s stock, valued at approximately $1,996,820. TELA Bio makes up approximately 0.0% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Stonepine Capital Management LLC owned about 5.93% of TELA Bio as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TELA. XTX Topco Ltd acquired a new position in TELA Bio in the 4th quarter worth $48,000. Citadel Advisors LLC increased its stake in shares of TELA Bio by 161.3% during the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after buying an additional 21,781 shares during the period. UP Strategic Wealth Investment Advisors LLC purchased a new position in shares of TELA Bio during the second quarter valued at approximately $91,000. Susquehanna International Group LLP grew its position in shares of TELA Bio by 551.2% during the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock valued at $128,000 after purchasing an additional 72,594 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in TELA Bio by 101.4% during the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after purchasing an additional 64,800 shares in the last quarter. 94.35% of the stock is currently owned by institutional investors and hedge funds.

TELA Bio Trading Up 7.7%

Shares of NASDAQ:TELA traded up $0.05 during midday trading on Friday, reaching $0.70. The company’s stock had a trading volume of 124,083 shares, compared to its average volume of 175,952. TELA Bio, Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $1.87. The firm has a 50 day moving average price of $0.74 and a two-hundred day moving average price of $0.78. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.38 and a current ratio of 2.99. The firm has a market capitalization of $31.43 million, a price-to-earnings ratio of -0.91 and a beta of 1.34.

TELA Bio (NASDAQ:TELA) last announced its earnings results 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 business had revenue of $19.29 million for the quarter, compared to the consensus estimate of $20.01 million. As a group, analysts forecast that TELA Bio, Inc. will post -0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.20.

TELA Bio 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.