Jacob Asset Management of New York LLC Raises Stake in TELA Bio, Inc. (NASDAQ:TELA)

Jacob Asset Management of New York LLC lifted its position in shares of TELA Bio, Inc. (NASDAQ:TELA) by 3.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 155,775 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. TELA Bio comprises approximately 1.8% of Jacob Asset Management of New York LLC’s holdings, making the stock its 23rd largest holding. Jacob Asset Management of New York LLC owned approximately 0.64% of TELA Bio worth $1,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Next Century Growth Investors LLC boosted its holdings in TELA Bio by 0.3% in the 1st quarter. Next Century Growth Investors LLC now owns 777,753 shares of the company’s stock worth $8,275,000 after acquiring an additional 2,695 shares during the period. Vanguard Group Inc. boosted its holdings in TELA Bio by 12.5% in the 1st quarter. Vanguard Group Inc. now owns 391,568 shares of the company’s stock worth $4,554,000 after acquiring an additional 43,633 shares during the period. Portside Wealth Group LLC purchased a new position in TELA Bio in the 2nd quarter worth approximately $2,636,000. Schonfeld Strategic Advisors LLC boosted its holdings in TELA Bio by 10.7% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 215,049 shares of the company’s stock worth $2,288,000 after acquiring an additional 20,826 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in TELA Bio by 151.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 207,406 shares of the company’s stock worth $2,101,000 after acquiring an additional 124,787 shares during the period. Hedge funds and other institutional investors own 91.06% of the company’s stock.

TELA Bio Stock Down 1.3 %

Shares of TELA Bio stock traded down $0.06 on Friday, hitting $4.69. 846,546 shares of the company’s stock traded hands, compared to its average volume of 165,415. The stock has a market cap of $114.86 million, a P/E ratio of -2.28 and a beta of 1.03. The company has a quick ratio of 5.75, a current ratio of 5.36 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average is $6.68 and its 200 day moving average is $8.77. TELA Bio, Inc. has a 52-week low of $4.23 and a 52-week high of $13.18.

Wall Street Analyst Weigh In

Separately, JMP Securities decreased their price target on TELA Bio from $20.00 to $15.00 and set a “market outperform” rating for the company in a report on Friday, November 10th.

Insider Activity

In other TELA Bio news, CEO Antony Koblish bought 11,000 shares of TELA Bio stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $4.54 per share, for a total transaction of $49,940.00. Following the purchase, the chief executive officer now owns 303,634 shares in the company, valued at approximately $1,378,498.36. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Roberto Cuca purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of $4.49 per share, with a total value of $44,900.00. Following the transaction, the chief financial officer now owns 62,371 shares in the company, valued at approximately $280,045.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Antony Koblish purchased 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $4.54 per share, for a total transaction of $49,940.00. Following the completion of the transaction, the chief executive officer now owns 303,634 shares in the company, valued at approximately $1,378,498.36. The disclosure for this purchase can be found here. Company insiders own 5.70% of the company’s stock.

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.