TELA Bio, Inc. (NASDAQ:TELA) Receives Consensus Recommendation of “Hold” from Analysts

TELA Bio, Inc. (NASDAQ:TELA) has received an average rating of “Hold” from the five brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $3.25.

A number of research firms have recently weighed in on TELA. Piper Sandler reissued a “neutral” rating and issued a $1.25 price objective (down previously from $2.00) on shares of TELA Bio in a research report on Friday, November 14th. Canaccord Genuity Group cut their price objective on shares of TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Citizens Jmp reduced their target price on TELA Bio from $7.00 to $5.00 and set a “market outperform” rating on the stock in a report on Friday, November 14th. Loop Capital set a $3.00 target price on shares of TELA Bio in a research report on Monday, December 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd.

Insider Activity

In other news, major shareholder Ew Healthcare Partners Fund 2, bought 3,604,000 shares of TELA Bio stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $1.11 per share, with a total value of $4,000,440.00. Following the completion of the transaction, the insider owned 7,714,709 shares in the company, valued at approximately $8,563,326.99. This trade represents a 87.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TELA Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Solstein Capital LLC bought a new position in shares of TELA Bio in the 2nd quarter worth about $32,000. WealthTrust Axiom LLC acquired a new stake in TELA Bio during the second quarter worth about $40,000. Citadel Advisors LLC lifted its holdings in shares of TELA Bio by 161.3% in the 3rd quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after purchasing an additional 21,781 shares during the last quarter. Stonepine Capital Management LLC boosted its position in TELA Bio by 1.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock valued at $4,042,000 after purchasing an additional 28,537 shares during the period. Finally, GSA Capital Partners LLP grew its stake in TELA Bio by 106.7% during the 3rd quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock worth $158,000 after buying an additional 54,613 shares during the last quarter. Institutional investors own 94.35% of the company’s stock.

TELA Bio Price Performance

TELA stock opened at $0.79 on Friday. The stock’s 50 day moving average price is $1.03 and its 200 day moving average price is $1.33. The firm has a market cap of $31.83 million, a P/E ratio of -0.89 and a beta of 0.88. The company has a debt-to-equity ratio of 26.65, a quick ratio of 2.62 and a current ratio of 3.30. TELA Bio has a 1 year low of $0.68 and a 1 year high of $2.96.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). TELA Bio had a negative net margin of 50.61% and a negative return on equity of 272.13%. The company had revenue of $20.69 million for the quarter, compared to analyst estimates of $21.78 million. On average, sell-side analysts expect that TELA Bio will post -1.37 earnings per share for the current fiscal 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.