Citizens Jmp Issues Pessimistic Forecast for TELA Bio (NASDAQ:TELA) Stock Price

TELA Bio (NASDAQ:TELA) had its target price cut by analysts at Citizens Jmp from $5.00 to $3.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price would suggest a potential upside of 347.69% from the company’s previous close.

A number of other research firms have also issued reports on TELA. Piper Sandler dropped their price objective on shares of TELA Bio from $1.25 to $1.00 and set a “neutral” rating on the stock in a research note on Wednesday. Canaccord Genuity Group lowered their price target on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. Lake Street Capital dropped their price target on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd. Finally, Loop Capital set a $3.00 price objective on shares of TELA Bio in a research report on Monday, December 1st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.20.

TELA Bio Price Performance

TELA stock opened at $0.67 on Friday. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.62 and a current ratio of 4.20. TELA Bio has a 1 year low of $0.60 and a 1 year high of $2.20. The firm has a market cap of $29.98 million, a P/E ratio of -0.81 and a beta of 0.88. The stock has a 50-day simple moving average of $0.84 and a 200-day simple moving average of $1.13.

TELA Bio (NASDAQ:TELA) last announced its earnings results on Tuesday, March 24th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $20.87 million for the quarter, compared to the consensus estimate of $21.04 million. TELA Bio had a negative return on equity of 433.58% and a negative net margin of 48.37%. On average, equities analysts predict that TELA Bio will post -1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TELA Bio

Several institutional investors and hedge funds have recently made changes to their positions in TELA. Embree Financial Group grew its position in shares of TELA Bio by 695.1% during the fourth quarter. Embree Financial Group now owns 111,318 shares of the company’s stock worth $131,000 after buying an additional 97,318 shares in the last quarter. Citadel Advisors LLC raised its holdings in TELA Bio by 161.3% in the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after acquiring an additional 21,781 shares in the last quarter. Renaissance Technologies LLC boosted its stake in TELA Bio by 101.4% during the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after acquiring an additional 64,800 shares during the last quarter. HBK Sorce Advisory LLC acquired a new position in TELA Bio during the 3rd quarter worth $154,000. Finally, Stonepine Capital Management LLC grew its holdings 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 worth $4,042,000 after acquiring an additional 28,537 shares in the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

TELA Bio Company Profile

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.