The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. TELA Bio Inc. shares valued at $324,975 were purchased by Opaleye Management Inc. on Jun 22. At $6.50 per share, Opaleye Management Inc. acquired 50,000 shares. The insider’s holdings grew to 1,540,000 shares worth approximately $10.01 million following the completion of this transaction.
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Also, EW HEALTHCARE PARTNERS FUND 2, purchased 5,000 shares, netting a total of over 31,250 in proceeds. Following the buying of shares at $6.25 each, the insider now holds 3,530,709 shares.
Before that, EW HEALTHCARE PARTNERS FUND 2, had added 5,000 shares to its account. In a trade valued at $30,850, the insider bought TELA Bio Inc. shares for $6.17 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $22.92 million.
As published in their initiating research note from Lake Street on May 31, 2022, TELA Bio Inc. [TELA] has been a Buy and the price target has been revised to $17. This represents a 61.76% premium over Wednesday’s closing price. Analysts at Piper Jaffray started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December. As of December 03, 2019, JMP Securities has initiated its “Mkt outperform” rating for TELA. Earlier on December 03, 2019, Jefferies initiated its rating. Their recommendation was “a Buy” for TELA stock.
Analyzing TELA’s Price Performance
On Wednesday, TELA Bio Inc. [NASDAQ: TELA] rose 6.56% to $6.50. The stock’s lowest price that day was $5.95, but it reached a high of $6.75 in the same session. During the last five days, there has been a surge of approximately 12.07%. Over the course of the year, TELA Bio Inc. shares have dropped approximately -49.22%. Shares of the company reached a 52-week high of $13.70 on 01/03/22 and a 52-week low of $5.15 on 06/10/22. A 50-day SMA is recorded $8.10, while a 200-day SMA reached $11.33. Nevertheless, trading volume fell to 0.7 million shares from 26800.0 shares the previous day.
Support And Resistance Levels for TELA Bio Inc. (TELA)
According to the 24-hour chart, there is a support level at 6.05, which, if violated, would cause prices to drop to 5.60. In the upper region, resistance lies at 6.85. The next price resistance is at 7.20. RSI (Relative Strength Index) is 44.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.15, which suggests the price will decrease in the coming days. Percent R is at 29.32%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of TELA Bio Inc. (TELA)?
According to Opaleye Management, Inc. filings, the company currently owns 1,585,000 shares, which is about 10.89% of the total TELA shares outstanding. The investor’s shares have appreciated by 1,108,000 from its previous 13-F filing of 477000.0 shares. With the completion of the sale, RTW Investments LP’s stake is now worth $7,112,647. Pura Vida Investments LLC acquire a 0.58% interest valued at $3.97 million while Velan Capital Investment Manageme purchased a 151,400 stake. A total of 3,610 shares of TELA Bio Inc. were bought by Silvercrest Asset Management Grou during the quarter, and 45,000 were bought by The Vanguard Group, Inc. In its current portfolio, Pentwater Capital Management LP holds 312,238 shares valued at $2.18 million.
In spite of this, 5 analysts ranked TELA Bio Inc. stock as a Buy at the end of 2022.