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

TELA Bio, Inc. (NASDAQ:TELA) has earned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.25.

Several equities analysts have weighed in on the stock. Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a report on Monday, December 1st. Loop Capital set a $3.00 price target on shares of TELA Bio in a research report on Monday, December 1st. Citizens Jmp lowered their price objective on TELA Bio from $7.00 to $5.00 and set a “market outperform” rating for the company in a research report on Friday, November 14th. Canaccord Genuity Group cut their target price 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. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $1.25 price target (down previously from $2.00) on shares of TELA Bio in a research note on Friday, November 14th.

TELA Bio Stock Up 2.3%

NASDAQ TELA opened at $0.78 on Friday. The business’s fifty day simple moving average is $1.01 and its 200-day simple moving average is $1.30. The company has a quick ratio of 2.62, a current ratio of 3.30 and a debt-to-equity ratio of 26.65. The firm has a market cap of $31.59 million, a PE ratio of -0.88 and a beta of 0.88. TELA Bio has a 52 week low of $0.68 and a 52 week high of $2.96.

Institutional Investors Weigh In On TELA Bio

A number of institutional investors have recently made changes to their positions in TELA. Solstein Capital LLC purchased a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $32,000. WealthTrust Axiom LLC purchased a new stake in TELA Bio in the second quarter valued at approximately $40,000. XTX Topco Ltd acquired a new position in TELA Bio during the fourth quarter worth $48,000. Citadel Advisors LLC lifted its stake in TELA Bio by 161.3% during the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after purchasing an additional 21,781 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its position in shares of TELA Bio by 551.2% during the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after buying an additional 72,594 shares during the period. 94.35% of the stock is currently owned by institutional investors and hedge funds.

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.