XTX Topco Ltd Trims Stock Holdings in TELA Bio, Inc. (NASDAQ:TELA)

XTX Topco Ltd reduced its holdings in shares of TELA Bio, Inc. (NASDAQ:TELA) by 53.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,672 shares of the company’s stock after selling 17,792 shares during the quarter. XTX Topco Ltd owned about 0.06% of TELA Bio worth $74,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ground Swell Capital LLC purchased a new stake in shares of TELA Bio during the second quarter worth $53,000. Trexquant Investment LP purchased a new stake in TELA Bio during the 4th quarter worth about $109,000. Los Angeles Capital Management LLC purchased a new stake in TELA Bio during the 2nd quarter worth about $131,000. Renaissance Technologies LLC purchased a new position in TELA Bio during the 2nd quarter valued at about $368,000. Finally, Russell Investments Group Ltd. increased its position in shares of TELA Bio by 107.6% during the first quarter. Russell Investments Group Ltd. now owns 94,940 shares of the company’s stock valued at $538,000 after buying an additional 49,204 shares during the period. 94.35% of the stock is owned by institutional investors.

TELA Bio Price Performance

Shares of NASDAQ:TELA opened at $2.51 on Wednesday. TELA Bio, Inc. has a one year low of $2.32 and a one year high of $8.00. The company has a debt-to-equity ratio of 14.22, a current ratio of 3.41 and a quick ratio of 2.52. The firm has a market capitalization of $61.90 million, a price-to-earnings ratio of -1.50 and a beta of 0.99. The company’s fifty day moving average price is $3.20 and its 200-day moving average price is $4.48.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.51) earnings per share (EPS) 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 period last year, the firm earned ($0.46) EPS. On average, equities research analysts anticipate that TELA Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.