Citizens Jmp Cuts TELA Bio (NASDAQ:TELA) Price Target to $3.00

TELA Bio (NASDAQ:TELA) had its price target decreased by Citizens Jmp from $5.00 to $3.00 in a research note released on Friday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

TELA has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research report on Thursday, January 22nd. Loop Capital set a $3.00 price objective on TELA Bio in a research note on Monday, December 1st. Piper Sandler dropped their target price on TELA Bio from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Canaccord Genuity Group cut their target price on TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Lake Street Capital reduced their price target on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.20.

TELA Bio Price Performance

Shares of NASDAQ:TELA opened at $0.67 on Friday. The company has a quick ratio of 3.59, a current ratio of 4.20 and a debt-to-equity ratio of 8.82. TELA Bio has a fifty-two week low of $0.60 and a fifty-two week high of $2.20. The firm has a 50-day simple moving average of $0.84 and a 200 day simple moving average of $1.12. The company has a market cap of $29.98 million, a PE ratio of -0.81 and a beta of 0.88.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Tuesday, March 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. TELA Bio had a negative net margin of 48.37% and a negative return on equity of 433.58%. The firm had revenue of $20.87 million for the quarter, compared to analysts’ expectations of $21.04 million. On average, sell-side analysts anticipate that TELA Bio will post -1.37 EPS for the current year.

Institutional Trading of TELA Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in TELA. XTX Topco Ltd acquired a new stake in shares of TELA Bio in the 4th quarter worth approximately $48,000. WealthTrust Axiom LLC increased its stake in shares of 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 acquiring an additional 90,650 shares during the period. Renaissance Technologies LLC increased its stake in shares of TELA Bio by 101.4% during 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. Essex Woodlands Management Inc. raised its holdings in TELA Bio by 87.7% during the fourth quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock worth $9,103,000 after purchasing an additional 3,604,000 shares in the last quarter. Finally, Perkins Capital Management Inc. raised its holdings 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 worth $1,649,000 after purchasing an additional 563,490 shares in the last quarter. 94.35% of the stock is currently 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.