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

TELA Bio, Inc. (NASDAQ:TELA) has earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3.25.

Several equities analysts have recently weighed in on TELA shares. Piper Sandler restated a “neutral” rating and set 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 reduced their price objective on TELA Bio from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Loop Capital set a $3.00 target price on TELA Bio in a report on Monday, December 1st. Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a 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.

Insiders Place Their Bets

In related news, major shareholder Ew Healthcare Partners Fund 2, purchased 3,604,000 shares of TELA Bio stock in a transaction dated Monday, November 17th. The stock was 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 directly owned 7,714,709 shares of the company’s stock, valued at $8,563,326.99. This trade represents a 87.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On TELA Bio

A number of hedge funds have recently modified their holdings of the stock. Solstein Capital LLC acquired a new stake in shares of TELA Bio during the 2nd quarter valued at about $32,000. WealthTrust Axiom LLC bought a new position in shares of TELA Bio in the second quarter valued at approximately $40,000. Citadel Advisors LLC lifted its stake in shares of TELA Bio by 161.3% in 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 last quarter. Stonepine Capital Management LLC boosted its holdings in shares of 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 buying an additional 28,537 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in shares of 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 period. 94.35% of the stock is owned by institutional investors and hedge funds.

TELA Bio Stock Performance

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

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

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.