Cubist Systematic Strategies LLC Acquires 15,283 Shares of TELA Bio, Inc. (NASDAQ:TELA)

Cubist Systematic Strategies LLC increased its holdings in shares of TELA Bio, Inc. (NASDAQ:TELA) by 95.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,313 shares of the company’s stock after purchasing an additional 15,283 shares during the quarter. Cubist Systematic Strategies LLC owned 0.08% of TELA Bio worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prudential Financial Inc. bought a new position in shares of TELA Bio during the fourth quarter valued at $57,000. Commonwealth Equity Services LLC lifted its holdings in shares of TELA Bio by 91.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock valued at $86,000 after purchasing an additional 13,555 shares in the last quarter. Walleye Capital LLC bought a new position in shares of TELA Bio during the fourth quarter valued at $91,000. Jane Street Group LLC lifted its holdings in shares of TELA Bio by 30.5% during the fourth quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock valued at $93,000 after purchasing an additional 7,174 shares in the last quarter. Finally, Diametric Capital LP purchased a new stake in TELA Bio during the fourth quarter valued at $108,000. 94.35% of the stock is owned by institutional investors.

TELA Bio Stock Up 4.5%

TELA Bio stock opened at $1.15 on Tuesday. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62. The stock has a fifty day moving average of $1.21 and a 200 day moving average of $2.23. The stock has a market cap of $45.49 million, a PE ratio of -0.68 and a beta of 0.67. TELA Bio, Inc. has a one year low of $0.86 and a one year high of $6.50.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The company had revenue of $18.52 million during the quarter, compared to analysts’ expectations of $17.35 million. TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. As a group, sell-side analysts predict that TELA Bio, Inc. will post -1.37 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.