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

Shares of TELA Bio, Inc. (NASDAQ:TELA) have received an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.20.

Several equities analysts recently issued reports on the stock. Piper Sandler reduced their price target on shares of TELA Bio from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Lake Street Capital reduced their target price on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. 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 research report on Wednesday, March 25th. Citizens Jmp dropped their price objective on shares of TELA Bio from $5.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Friday, March 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd.

TELA Bio Price Performance

TELA stock opened at $0.60 on Friday. The firm’s 50-day moving average price is $0.80 and its two-hundred day moving average price is $1.09. TELA Bio has a 12-month low of $0.50 and a 12-month high of $2.20. The stock has a market capitalization of $26.72 million, a price-to-earnings ratio of -0.72 and a beta of 0.99. The company has a current ratio of 4.20, a quick ratio of 3.59 and a debt-to-equity ratio of 8.82.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings data on Tuesday, March 24th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. TELA Bio had a negative return on equity of 433.58% and a negative net margin of 48.37%.The business had revenue of $20.87 million during the quarter, compared to analysts’ expectations of $21.04 million. As a group, equities analysts predict that TELA Bio will post -1.37 earnings per share for the current year.

Institutional Trading of TELA Bio

Hedge funds have recently made changes to their positions in the stock. Essex Woodlands Management Inc. increased its position in TELA Bio by 87.7% during the 4th quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock valued at $9,103,000 after buying an additional 3,604,000 shares in the last quarter. Perkins Capital Management Inc. boosted its holdings in TELA Bio by 67.6% in the fourth quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock worth $1,649,000 after acquiring an additional 563,490 shares in the last quarter. WealthTrust Axiom LLC grew its stake in shares of TELA Bio by 39.1% in the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock worth $381,000 after acquiring an additional 90,650 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of TELA Bio by 101.4% in the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock worth $152,000 after acquiring an additional 64,800 shares during the last quarter. Finally, Embree Financial Group increased its holdings 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 valued at $131,000 after acquiring an additional 97,318 shares in the last quarter. 94.35% of the stock is owned by 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.