TELA Bio, Inc. (NASDAQ:TELA) Receives Consensus Recommendation of “Hold” from Analysts

TELA Bio, Inc. (NASDAQ:TELA) has earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.20.

A number of equities research analysts recently weighed in on TELA shares. Piper Sandler decreased their price objective on TELA Bio from $1.25 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Canaccord Genuity Group decreased their price objective on TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Citizens Jmp decreased their price objective on TELA Bio from $5.00 to $3.00 and set a “market outperform” rating for the company in a research note on Friday, March 27th. Lake Street Capital decreased their price objective on TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a research note on Tuesday, April 21st.

Institutional Investors Weigh In On TELA Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its stake in TELA Bio by 161.3% in the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after buying an additional 21,781 shares during the last quarter. XTX Topco Ltd purchased a new stake in TELA Bio in the fourth quarter valued at about $48,000. Susquehanna International Group LLP raised its stake in TELA Bio by 551.2% in the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock valued at $128,000 after buying an additional 72,594 shares during the last quarter. GSA Capital Partners LLP raised its stake in TELA Bio by 106.7% in the third quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock valued at $158,000 after buying an additional 54,613 shares during the last quarter. Finally, Embree Financial Group raised its stake in TELA Bio by 695.1% in the fourth quarter. Embree Financial Group now owns 111,318 shares of the company’s stock valued at $131,000 after buying an additional 97,318 shares during the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

TELA Bio Price Performance

Shares of TELA stock opened at $0.89 on Monday. TELA Bio has a twelve month low of $0.50 and a twelve month high of $2.20. The stock has a market capitalization of $39.85 million, a price-to-earnings ratio of -1.13 and a beta of 1.30. The stock has a fifty day simple moving average of $0.77 and a two-hundred day simple moving average of $0.93. The company has a current ratio of 3.61, a quick ratio of 2.92 and a debt-to-equity ratio of 8.82.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $19.06 million for the quarter, compared to analysts’ expectations of $18.60 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 49.30%. On average, analysts predict that TELA Bio will post -0.69 EPS for the current fiscal year.

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.