1,000,064 Shares in TELA Bio, Inc. (NASDAQ:TELA) Acquired by Royce & Associates LP

Royce & Associates LP bought a new stake in shares of TELA Bio, Inc. (NASDAQ:TELA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,000,064 shares of the company's stock, valued at approximately $3,020,000. Royce & Associates LP owned 2.54% of TELA Bio at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TELA. Stonepine Capital Management LLC boosted its stake in shares of TELA Bio by 77.4% during the third quarter. Stonepine Capital Management LLC now owns 1,110,000 shares of the company's stock valued at $2,808,000 after purchasing an additional 484,355 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of TELA Bio during the third quarter valued at $362,000. GSA Capital Partners LLP boosted its stake in shares of TELA Bio by 398.8% during the third quarter. GSA Capital Partners LLP now owns 112,205 shares of the company's stock valued at $284,000 after purchasing an additional 89,712 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake 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 during the period. 94.35% of the stock is owned by hedge funds and other institutional investors.

TELA Bio Stock Down 37.2 %

NASDAQ:TELA traded down $0.87 during mid-day trading on Friday, reaching $1.47. The company's stock had a trading volume of 2,925,397 shares, compared to its average volume of 210,384. The firm has a market capitalization of $57.90 million, a PE ratio of -0.87 and a beta of 1.10. The company has a quick ratio of 1.81, a current ratio of 2.62 and a debt-to-equity ratio of 14.22. The stock has a fifty day moving average of $2.56 and a 200-day moving average of $2.70. TELA Bio, Inc. has a 1 year low of $1.28 and a 1 year high of $6.50.

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TELA Bio (NASDAQ:TELA - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.23) earnings per share (EPS) 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 firm had revenue of $17.65 million for the quarter, compared to the consensus estimate of $23.17 million. Equities research analysts forecast that TELA Bio, Inc. will post -1.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

TELA has been the subject of a number of research reports. Canaccord Genuity Group lowered their price objective on shares of TELA Bio from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Friday. Piper Sandler lowered shares of TELA Bio from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $5.00 to $2.00 in a research note on Friday.

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.