TELA Bio, Inc. (NASDAQ:TELA) CFO Roberto Cuca Purchases 64,444 Shares of Stock

TELA Bio, Inc. (NASDAQ:TELA) CFO Roberto Cuca bought 64,444 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $2.25 per share, with a total value of $144,999.00. Following the completion of the purchase, the chief financial officer now directly owns 155,388 shares of the company’s stock, valued at $349,623. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TELA Bio Stock Performance

NASDAQ:TELA opened at $2.58 on Friday. The stock has a market cap of $63.75 million, a P/E ratio of -1.50 and a beta of 0.99. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 14.22. The stock’s 50-day moving average is $2.68 and its 200-day moving average is $4.16. TELA Bio, Inc. has a 1-year low of $2.30 and a 1-year high of $7.84.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.06). The firm had revenue of $16.09 million for the quarter, compared to the consensus estimate of $19.00 million. TELA Bio had a negative return on equity of 252.57% and a negative net margin of 65.04%. During the same quarter last year, the firm posted ($0.46) earnings per share. Equities research analysts anticipate that TELA Bio, Inc. will post -1.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Lake Street Capital reduced their target price on shares of TELA Bio from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Piper Sandler dropped their price target on TELA Bio from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 price target on shares of TELA Bio in a research note on Friday, October 4th. Finally, JMP Securities lowered their target price on TELA Bio from $15.00 to $12.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 13th.

Institutional Trading of TELA Bio

Institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in TELA Bio in the second quarter valued at approximately $25,000. Embree Financial Group bought a new position in shares of TELA Bio during the 3rd quarter worth approximately $25,000. Ground Swell Capital LLC bought a new position in shares of TELA Bio during the 2nd quarter worth approximately $53,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of TELA Bio during the 2nd quarter worth approximately $115,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of TELA Bio during the 2nd quarter worth approximately $131,000. 94.35% of the stock is currently owned by institutional investors.

About TELA Bio

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.