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

TELA Bio, Inc. (NASDAQ:TELA) has received an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $3.25.

A number of analysts recently commented on the stock. Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a research note on Monday, December 1st. Canaccord Genuity Group cut their price target on shares of TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Citizens Jmp decreased their price target on shares of TELA Bio from $7.00 to $5.00 and set a “market outperform” rating for the company in a report on Friday, November 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research note on Thursday, January 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $1.25 target price (down from $2.00) on shares of TELA Bio in a research report on Friday, November 14th.

TELA Bio Price Performance

Shares of NASDAQ TELA opened at $0.84 on Wednesday. TELA Bio has a fifty-two week low of $0.67 and a fifty-two week high of $2.48. The company has a market cap of $33.96 million, a PE ratio of -0.95 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. The business has a 50-day simple moving average of $0.92 and a two-hundred day simple moving average of $1.21.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. WealthTrust Axiom LLC acquired a new stake in shares of TELA Bio during the second quarter worth about $40,000. Citadel Advisors LLC raised 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 last quarter. XTX Topco Ltd purchased a new position in TELA Bio during the 4th quarter worth approximately $48,000. Susquehanna International Group LLP lifted its stake in TELA Bio by 551.2% during the 3rd quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock valued at $128,000 after acquiring an additional 72,594 shares during the period. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of TELA Bio in the 3rd quarter valued at $154,000. 94.35% of the stock is owned by institutional investors and hedge funds.

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.