Lake Street Capital Has Lowered Expectations for TELA Bio (NASDAQ:TELA) Stock Price

TELA Bio (NASDAQ:TELAGet Free Report) had its target price dropped by equities research analysts at Lake Street Capital from $3.00 to $2.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price target points to a potential upside of 168.06% from the company’s previous close.

Several other equities research analysts also recently commented on TELA. Canaccord Genuity Group reduced their target price on TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. Loop Capital set a $3.00 price target on TELA Bio in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.60.

Check Out Our Latest Research Report on TELA Bio

TELA Bio Price Performance

NASDAQ TELA opened at $0.75 on Wednesday. TELA Bio has a 1 year low of $0.62 and a 1 year high of $2.20. The business’s fifty day moving average is $0.84 and its two-hundred day moving average is $1.14. The stock has a market capitalization of $30.10 million, a P/E ratio of -0.90 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.

TELA Bio (NASDAQ:TELAGet Free Report) 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. The business had revenue of $20.87 million during the quarter, compared to analyst estimates of $21.04 million. TELA Bio had a negative return on equity of 396.31% and a negative net margin of 48.37%. On average, research analysts forecast that TELA Bio will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of TELA Bio

A number of hedge funds have recently modified their holdings of the business. Essex Woodlands Management Inc. lifted its holdings in shares of TELA Bio by 87.7% in the fourth quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock valued at $9,103,000 after purchasing an additional 3,604,000 shares in the last quarter. 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 in the last quarter. Perkins Capital Management Inc. raised its position in TELA Bio by 67.6% during the fourth quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock valued at $1,649,000 after buying an additional 563,490 shares during the period. WealthTrust Axiom LLC raised its position in TELA Bio by 39.1% during the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock valued at $381,000 after buying an additional 90,650 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in TELA Bio by 101.4% in the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock worth $152,000 after acquiring an additional 64,800 shares in the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

TELA Bio News Summary

Here are the key news stories impacting TELA Bio this week:

TELA Bio Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for TELA Bio (NASDAQ:TELA)

Receive News & Ratings for TELA Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELA Bio and related companies with MarketBeat.com's FREE daily email newsletter.