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

TELA Bio, Inc. (NASDAQ:TELA) has earned a consensus rating of “Hold” from the five research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $3.25.

Several research analysts have commented on TELA shares. Loop Capital set a $3.00 target price on TELA Bio in a research note on Monday, December 1st. Canaccord Genuity Group lowered their price target 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. Citizens Jmp lowered 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 report on Friday, November 14th. Piper Sandler restated a “neutral” rating and set a $1.25 price target (down from $2.00) on shares of TELA Bio in a research report on Friday, November 14th. Finally, Lake Street Capital reissued a “buy” rating on shares of TELA Bio in a report on Monday, December 1st.

TELA Bio Price Performance

Shares of TELA opened at $1.12 on Friday. The firm has a market cap of $45.02 million, a PE ratio of -1.25 and a beta of 0.87. TELA Bio has a 52-week low of $0.86 and a 52-week high of $3.10. The business’s 50 day moving average price is $1.21 and its two-hundred day moving average price is $1.55. 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 (NASDAQ:TELA) last announced 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). 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 analysts’ expectations of $21.78 million. On average, equities analysts anticipate that TELA Bio will post -1.37 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Ew Healthcare Partners Fund 2, bought 3,604,000 shares of the business’s stock in a transaction 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 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 filing with the SEC, which is accessible through this link. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Solstein Capital LLC purchased a new stake in TELA Bio during the 2nd quarter worth approximately $32,000. WealthTrust Axiom LLC acquired a new stake in shares of TELA Bio during the second quarter worth $40,000. Citadel Advisors LLC lifted its stake in shares of TELA Bio by 161.3% during the third 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. Stonepine Capital Management LLC grew its holdings in shares of TELA Bio by 1.4% during the second quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock valued at $4,042,000 after buying an additional 28,537 shares during the last quarter. Finally, Birchview Capital LP increased its position in shares of TELA Bio by 24.0% in the 1st quarter. Birchview Capital LP now owns 155,000 shares of the company’s stock valued at $189,000 after acquiring an additional 30,000 shares during the period. 94.35% of the stock is owned by hedge funds and other institutional investors.

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.