Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. TELA Bio Inc shares valued at $1,791,720 were sold by ORBIMED ADVISORS LLC on Jun 28 ’24. At $4.74 per share, ORBIMED ADVISORS LLC sold 378,000 shares. The insider’s holdings dropped to 2,457,542 shares worth approximately $6.51 million following the completion of this transaction.
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Also, ORBIMED ADVISORS LLC sold 36,600 shares, netting a total of over 166,164 in proceeds. Following the sale of shares at $4.54 each, the insider now holds 2,407,242 shares.
Before that, ORBIMED ADVISORS LLC had sold 13,700 shares from its account. In a trade valued at $64,116, the 10% Owner traded TELA Bio Inc shares for $4.68 each. Upon closing the transaction, the insider’s holdings decreased to 13,700 shares, worth approximately $6.48 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. 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 Stock Performance
During the last five days, there has been a surge of approximately 1.92%. Over the course of the year, TELA Bio Inc shares have dropped approximately -59.97%. Nevertheless, trading volume fell to 2.56 million shares from 35700.0 shares the previous day.
Support And Resistance Levels for TELA Bio Inc (TELA)
RSI (Relative Strength Index) is 52.52 on the 14-day chart, showing neutral technical sentiment.
