Perkins Capital Management Inc. Increases Position in TELA Bio, Inc. (NASDAQ:TELA)

Perkins Capital Management Inc. grew its stake in shares of TELA Bio, Inc. (NASDAQ:TELA - Free Report) by 303.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 907,865 shares of the company's stock after acquiring an additional 682,665 shares during the quarter. TELA Bio comprises about 2.4% of Perkins Capital Management Inc.'s holdings, making the stock its 11th largest position. Perkins Capital Management Inc. owned 2.30% of TELA Bio worth $2,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP increased its position in TELA Bio by 398.8% during the third quarter. GSA Capital Partners LLP now owns 112,205 shares of the company's stock worth $284,000 after purchasing an additional 89,712 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of TELA Bio during the 3rd quarter worth $362,000. Royce & Associates LP purchased a new position in shares of TELA Bio in the 4th quarter worth $3,020,000. Stonepine Capital Management LLC raised its position in shares of TELA Bio by 77.4% in the 3rd quarter. Stonepine Capital Management LLC now owns 1,110,000 shares of the company's stock worth $2,808,000 after buying an additional 484,355 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings 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 acquiring an additional 13,555 shares during the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

TELA has been the subject of several research analyst reports. Piper Sandler lowered TELA Bio from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $5.00 to $2.00 in a research note on Friday, March 21st. Canaccord Genuity Group cut their price target on shares of TELA Bio from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, March 21st.

TELA Bio Stock Down 9.9 %

NASDAQ:TELA traded down $0.14 during mid-day trading on Friday, hitting $1.24. The company had a trading volume of 222,311 shares, compared to its average volume of 225,807. The business has a fifty day simple moving average of $2.42 and a 200-day simple moving average of $2.65. The firm has a market capitalization of $48.64 million, a price-to-earnings ratio of -0.73 and a beta of 1.10. TELA Bio, Inc. has a 1 year low of $1.15 and a 1 year high of $6.50. 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 - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.01. The business had revenue of $17.65 million for the quarter, compared to the consensus estimate of $23.17 million. TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. Equities analysts forecast that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.

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.