Piper Sandler Lowers TELA Bio (NASDAQ:TELA) Price Target to $1.00

TELA Bio (NASDAQ:TELAGet Free Report) had its target price cut by research analysts at Piper Sandler from $1.25 to $1.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential upside of 34.03% from the stock’s current price.

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

Read Our Latest Report on TELA

TELA Bio Trading Up 8.1%

NASDAQ TELA opened at $0.75 on Wednesday. TELA Bio has a 12 month low of $0.62 and a 12 month high of $2.20. The company has a debt-to-equity ratio of 26.65, a current ratio of 3.30 and a quick ratio of 2.62. The company has a market capitalization of $30.10 million, a price-to-earnings ratio of -0.90 and a beta of 0.88. The company’s fifty day moving average price is $0.84 and its two-hundred day moving average price is $1.14.

TELA Bio (NASDAQ:TELAGet Free Report) last released its earnings results 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 company had revenue of $20.87 million during the quarter, compared to the consensus estimate of $21.04 million. TELA Bio had a negative net margin of 48.37% and a negative return on equity of 396.31%. As a group, research analysts predict that TELA Bio will post -1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Essex Woodlands Management Inc. grew its position in shares of 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 during the last quarter. Stonepine Capital Management LLC raised its stake in TELA Bio by 1.4% during the second quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock worth $4,042,000 after acquiring an additional 28,537 shares during the period. Perkins Capital Management Inc. lifted 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 during the last quarter. WealthTrust Axiom LLC lifted its holdings in 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. Finally, Renaissance Technologies LLC boosted its stake in TELA Bio by 101.4% in the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after acquiring an additional 64,800 shares during the period. 94.35% of the stock is owned by institutional investors and hedge funds.

Key TELA Bio News

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TELA Bio Company Profile

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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.

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