TELA Bio (NASDAQ:TELA) Price Target Cut to $15.00

TELA Bio (NASDAQ:TELA) had its price objective dropped by stock analysts at JMP Securities from $20.00 to $15.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 224.68% from the company’s previous close.

TELA Bio Stock Performance

NASDAQ:TELA opened at $4.62 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 5.75 and a current ratio of 6.84. The stock has a market capitalization of $113.14 million, a P/E ratio of -2.24 and a beta of 1.03. The company has a 50 day moving average price of $7.14 and a 200 day moving average price of $8.94. TELA Bio has a fifty-two week low of $4.26 and a fifty-two week high of $13.18.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.12. The firm had revenue of $14.49 million during the quarter, compared to analysts’ expectations of $14.60 million. TELA Bio had a negative net margin of 82.43% and a negative return on equity of 228.47%. Equities research analysts forecast that TELA Bio will post -2.15 EPS for the current year.

Hedge Funds Weigh In On TELA Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC purchased a new position in TELA Bio in the 2nd quarter valued at approximately $33,000. Morgan Stanley boosted its position in TELA Bio by 38,708.3% in the 4th quarter. Morgan Stanley now owns 4,657 shares of the company’s stock valued at $54,000 after buying an additional 4,645 shares during the period. California State Teachers Retirement System purchased a new position in TELA Bio in the 2nd quarter valued at approximately $53,000. Wells Fargo & Company MN boosted its position in TELA Bio by 8,294.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,632 shares of the company’s stock valued at $67,000 after buying an additional 6,553 shares during the period. Finally, American International Group Inc. purchased a new stake in shares of TELA Bio during the 2nd quarter worth $77,000. Hedge funds and other institutional investors own 91.06% 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.