TELA Bio, Inc. (NASDAQ:TELA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of TELA Bio, Inc. (NASDAQ:TELA) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.25.

TELA has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research report on Wednesday, October 8th. Lake Street Capital restated a “buy” rating on shares of TELA Bio in a research report on Monday, December 1st. Loop Capital set a $3.00 target price on shares of TELA Bio in a research note on Monday, December 1st. Citizens Jmp dropped their price objective on shares of TELA Bio from $7.00 to $5.00 and set a “market outperform” rating for the company in a research note on Friday, November 14th. Finally, Canaccord Genuity Group cut their target price on TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th.

Insider Buying and Selling

In other TELA Bio news, major shareholder Ew Healthcare Partners Fund 2, acquired 3,604,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $1.11 per share, with a total value of $4,000,440.00. Following the transaction, the insider directly owned 7,714,709 shares in the company, valued at approximately $8,563,326.99. This represents a 87.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TELA Bio

Large investors have recently added to or reduced their stakes in the stock. Solstein Capital LLC acquired a new position in TELA Bio during the second quarter valued at approximately $32,000. WealthTrust Axiom LLC acquired a new position in shares of TELA Bio in the second quarter valued at approximately $40,000. Citadel Advisors LLC increased its position in TELA Bio by 161.3% during the 3rd quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after buying an additional 21,781 shares during the period. Destiny Wealth Partners LLC bought a new position in shares of TELA Bio during the second quarter worth approximately $102,000. Finally, Susquehanna International Group LLP raised its stake in TELA Bio by 551.2% in the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock valued at $128,000 after purchasing an additional 72,594 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

TELA Bio Stock Down 2.1%

Shares of TELA opened at $1.12 on Friday. The company has a quick ratio of 2.62, a current ratio of 3.30 and a debt-to-equity ratio of 26.65. The stock has a fifty day simple moving average of $1.21 and a two-hundred day simple moving average of $1.55. TELA Bio has a 52-week low of $0.86 and a 52-week high of $3.10. The company has a market capitalization of $45.02 million, a PE ratio of -1.25 and a beta of 0.87.

TELA Bio (NASDAQ:TELA) last posted its earnings results on Thursday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $20.69 million for the quarter, compared to analyst estimates of $21.78 million. TELA Bio had a negative return on equity of 272.13% and a negative net margin of 50.61%. As a group, equities analysts forecast that TELA Bio will post -1.37 EPS for the current year.

About TELA Bio

TELA Bio, Inc (NASDAQ: TELA) is a commercial‐stage medical technology company headquartered in Malvern, Pennsylvania. The company is focused on developing, manufacturing and commercializing regenerative medicine and advanced soft tissue repair solutions. By integrating proprietary biomaterials and processing technologies, TELA Bio aims to offer products that support the body’s natural healing processes in wound closure, hernia repair, reconstructive surgery and other surgical specialties.

The company’s product portfolio includes acellular dermal matrices, hemostatic agents and tissue scaffold systems.