Walleye Capital LLC Takes Position in TELA Bio, Inc. (NASDAQ:TELA)

Walleye Capital LLC bought a new stake in TELA Bio, Inc. (NASDAQ:TELA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,138 shares of the company’s stock, valued at approximately $91,000. Walleye Capital LLC owned approximately 0.08% of TELA Bio as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TELA. Prudential Financial Inc. purchased a new stake in shares of TELA Bio during the fourth quarter worth $57,000. Commonwealth Equity Services LLC raised 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 worth $86,000 after acquiring an additional 13,555 shares in the last quarter. Diametric Capital LP purchased a new stake in shares of TELA Bio during the fourth quarter worth $108,000. JPMorgan Chase & Co. raised its holdings in shares of TELA Bio by 39,329.5% during the fourth quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company’s stock worth $404,000 after acquiring an additional 133,327 shares in the last quarter. Finally, Archon Capital Management LLC purchased a new stake in shares of TELA Bio during the fourth quarter worth $453,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

TELA Bio Trading Down 1.3 %

TELA Bio stock opened at $0.96 on Monday. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. The company has a market capitalization of $37.96 million, a price-to-earnings ratio of -0.57 and a beta of 0.98. TELA Bio, Inc. has a one year low of $0.86 and a one year high of $6.50. The company’s fifty day moving average price is $1.69 and its two-hundred day moving average price is $2.42.

TELA Bio (NASDAQ:TELA) last posted its earnings results on Thursday, March 20th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01. The firm had revenue of $17.65 million for the quarter, compared to the consensus estimate of $23.17 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. On average, analysts forecast that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TELA shares. Canaccord Genuity Group cut their price objective on TELA Bio from $12.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 21st. Piper Sandler downgraded shares of TELA Bio from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $2.00 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.