DAFNA Capital Management LLC Acquires New Shares in TELA Bio, Inc. (NASDAQ:TELA)

DAFNA Capital Management LLC bought a new stake in shares of TELA Bio, Inc. (NASDAQ:TELA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,441,029 shares of the company’s stock, valued at approximately $4,352,000. TELA Bio accounts for about 1.1% of DAFNA Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. DAFNA Capital Management LLC owned about 3.66% of TELA Bio as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new position in shares of TELA Bio during the 4th quarter valued at $57,000. Commonwealth Equity Services LLC lifted its holdings in shares of TELA Bio by 91.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock worth $86,000 after acquiring an additional 13,555 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of TELA Bio during the 4th quarter worth $91,000. Jane Street Group LLC grew its position in TELA Bio by 30.5% in the fourth quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock worth $93,000 after acquiring an additional 7,174 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in TELA Bio by 95.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company’s stock valued at $95,000 after acquiring an additional 15,283 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Analysts Set New Price Targets

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

TELA Bio Stock Down 1.6 %

TELA opened at $0.95 on Thursday. TELA Bio, Inc. has a 12 month low of $0.86 and a 12 month high of $6.50. 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’s 50-day moving average price is $1.42 and its 200-day moving average price is $2.33. The company has a market cap of $37.58 million, a P/E ratio of -0.56 and a beta of 0.67.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. The firm had revenue of $17.65 million for the quarter, compared to analysts’ expectations of $23.17 million. On average, equities analysts expect that TELA Bio, Inc. will post -1.37 EPS for the current year.

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.