AIGH Capital Management LLC Has $8.04 Million Holdings in TELA Bio, Inc. (NASDAQ:TELA)

AIGH Capital Management LLC grew its holdings in TELA Bio, Inc. (NASDAQ:TELA) by 7.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,662,785 shares of the company’s stock after acquiring an additional 193,412 shares during the quarter. TELA Bio accounts for about 2.5% of AIGH Capital Management LLC’s portfolio, making the stock its 16th biggest position. AIGH Capital Management LLC owned approximately 0.07% of TELA Bio worth $8,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prudential Financial Inc. acquired a new position in shares of TELA Bio during the 4th quarter worth about $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 worth $86,000 after buying an additional 13,555 shares in the last quarter. JPMorgan Chase & Co. increased its stake in TELA Bio by 39,329.5% during the 4th quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company’s stock worth $404,000 after acquiring an additional 133,327 shares during the period. Perkins Capital Management Inc. lifted its position in TELA Bio by 303.1% during the fourth quarter. Perkins Capital Management Inc. now owns 907,865 shares of the company’s stock worth $2,742,000 after purchasing an additional 682,665 shares during the period. Finally, Royce & Associates LP bought a new position in shares of TELA Bio in the 4th quarter valued at $3,020,000. 94.35% of the stock is owned by institutional investors.

TELA Bio Price Performance

TELA stock opened at $1.24 on Friday. The firm has a 50 day moving average of $2.42 and a 200-day moving average of $2.65. The firm has a market capitalization of $48.64 million, a P/E ratio of -0.73 and a beta of 1.10. 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, Inc. has a 12 month low of $1.15 and a 12 month high of $6.50.

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

Analyst Upgrades and Downgrades

TELA has been the subject of several research reports. Piper Sandler downgraded shares of TELA Bio from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $5.00 to $2.00 in a research note on Friday, March 21st. Canaccord Genuity Group cut their price target on 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 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.