Perkins Capital Management Inc. Has $2.74 Million Holdings in TELA Bio, Inc. (NASDAQ:TELA)

Perkins Capital Management Inc. raised its position in TELA Bio, Inc. (NASDAQ:TELA) by 303.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 907,865 shares of the company’s stock after buying an additional 682,665 shares during the period. TELA Bio accounts for about 2.4% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 11th biggest position. Perkins Capital Management Inc.’s holdings in TELA Bio were worth $2,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in TELA Bio by 398.8% in the third quarter. GSA Capital Partners LLP now owns 112,205 shares of the company’s stock valued at $284,000 after buying an additional 89,712 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in TELA Bio in the third quarter valued at about $362,000. Royce & Associates LP acquired a new position in TELA Bio in the fourth quarter valued at about $3,020,000. Stonepine Capital Management LLC boosted its position in TELA Bio by 77.4% in the third quarter. Stonepine Capital Management LLC now owns 1,110,000 shares of the company’s stock valued at $2,808,000 after buying an additional 484,355 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in TELA Bio by 91.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock valued at $86,000 after buying an additional 13,555 shares in the last quarter. 94.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TELA. Canaccord Genuity Group reduced their target price on shares of TELA Bio from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler lowered shares of TELA Bio from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $5.00 to $2.00 in a research report on Friday.

TELA Bio Price Performance

Shares of TELA stock opened at $1.47 on Monday. The firm’s 50 day moving average is $2.56 and its 200-day moving average is $2.70. TELA Bio, Inc. has a 1 year low of $1.28 and a 1 year high of $6.50. The firm has a market capitalization of $57.90 million, a price-to-earnings ratio of -0.87 and a beta of 1.10. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $17.65 million for the quarter, compared to analyst estimates of $23.17 million. Sell-side analysts forecast that TELA Bio, Inc. will post -1.37 EPS for the current fiscal year.

TELA Bio 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.