Opaleye Management Inc. Purchases 4,158 Shares of TELA Bio, Inc. (NASDAQ:TELA) Stock

TELA Bio, Inc. (NASDAQ:TELAGet Rating) major shareholder Opaleye Management Inc. purchased 4,158 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was bought at an average price of $8.10 per share, with a total value of $33,679.80. Following the completion of the purchase, the insider now owns 1,888,500 shares of the company’s stock, valued at $15,296,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

  • On Tuesday, August 16th, Opaleye Management Inc. purchased 315,000 shares of TELA Bio stock. The stock was bought at an average price of $8.00 per share, with a total value of $2,520,000.00.
  • On Wednesday, August 10th, Opaleye Management Inc. bought 11,979 shares of TELA Bio stock. The shares were acquired at an average price of $8.52 per share, with a total value of $102,061.08.
  • On Monday, August 1st, Opaleye Management Inc. bought 4,979 shares of TELA Bio stock. The shares were acquired at an average price of $7.96 per share, with a total value of $39,632.84.
  • On Friday, July 22nd, Opaleye Management Inc. bought 5,200 shares of TELA Bio stock. The shares were acquired at an average price of $8.02 per share, with a total value of $41,704.00.
  • On Wednesday, July 20th, Opaleye Management Inc. bought 5,100 shares of TELA Bio stock. The shares were acquired at an average price of $8.08 per share, with a total value of $41,208.00.
  • On Friday, July 1st, Opaleye Management Inc. bought 200 shares of TELA Bio stock. The shares were acquired at an average price of $7.00 per share, with a total value of $1,400.00.
  • On Wednesday, June 29th, Opaleye Management Inc. bought 2 shares of TELA Bio stock. The shares were acquired at an average price of $6.99 per share, with a total value of $13.98.
  • On Wednesday, June 22nd, Opaleye Management Inc. bought 50,000 shares of TELA Bio stock. The shares were acquired at an average price of $6.50 per share, with a total value of $325,000.00.

TELA Bio Stock Down 2.1 %

NASDAQ:TELA opened at $8.25 on Friday. The stock has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $8.89. The company has a debt-to-equity ratio of 3.15, a current ratio of 3.83 and a quick ratio of 2.96. TELA Bio, Inc. has a 1-year low of $5.15 and a 1-year high of $14.00.

TELA Bio (NASDAQ:TELAGet Rating) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.20). The firm had revenue of $10.41 million for the quarter, compared to analyst estimates of $10.25 million. TELA Bio had a negative return on equity of 278.82% and a negative net margin of 116.80%. During the same period in the previous year, the business posted ($0.57) earnings per share. As a group, research analysts expect that TELA Bio, Inc. will post -2.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on TELA. JMP Securities reissued a “buy” rating and set a $22.00 price target on shares of TELA Bio in a report on Wednesday, June 1st. Lake Street Capital began coverage on TELA Bio in a report on Tuesday, May 31st. They set a “buy” rating and a $17.00 price target for the company.

Hedge Funds Weigh In On TELA Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TELA. Essex Woodlands Management Inc. raised its holdings in TELA Bio by 3.9% in the 4th quarter. Essex Woodlands Management Inc. now owns 1,906,228 shares of the company’s stock valued at $24,400,000 after acquiring an additional 72,239 shares in the last quarter. Opaleye Management Inc. raised its holdings in TELA Bio by 1.5% in the 4th quarter. Opaleye Management Inc. now owns 449,867 shares of the company’s stock valued at $5,758,000 after acquiring an additional 6,668 shares in the last quarter. WMS Partners LLC acquired a new position in TELA Bio in the 1st quarter valued at $327,000. Vanguard Group Inc. raised its holdings in TELA Bio by 12.5% in the 1st quarter. Vanguard Group Inc. now owns 391,568 shares of the company’s stock valued at $4,554,000 after acquiring an additional 43,633 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in TELA Bio by 4.0% in the 1st quarter. Parkman Healthcare Partners LLC now owns 108,504 shares of the company’s stock valued at $1,262,000 after acquiring an additional 4,222 shares in the last quarter.

About TELA Bio

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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. It 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.

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