TELA Bio, Inc. (NASDAQ:TELA) Receives $3.25 Average Price Target from Brokerages

Shares of TELA Bio, Inc. (NASDAQ:TELA) have been assigned a consensus rating of “Hold” from the five research firms that are covering the stock, MarketBeat reports. One equities 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 objective among brokers that have covered the stock in the last year is $3.25.

TELA has been the subject of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $1.25 price objective (down from $2.00) on shares of TELA Bio in a report on Friday, November 14th. Canaccord Genuity Group dropped their target price on TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Loop Capital set a $3.00 price target on TELA Bio in a research report on Monday, December 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research note on Wednesday, October 8th. Finally, Citizens Jmp cut their target price on TELA Bio from $7.00 to $5.00 and set a “market outperform” rating for the company in a research note on Friday, November 14th.

Insiders Place Their Bets

In other news, major shareholder Ew Healthcare Partners Fund 2, bought 3,604,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $1.11 per share, with a total value of $4,000,440.00. Following the acquisition, the insider owned 7,714,709 shares of the company’s stock, valued at approximately $8,563,326.99. The trade was a 87.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On TELA Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Solstein Capital LLC purchased a new stake in shares of TELA Bio in the 2nd quarter valued at about $32,000. WealthTrust Axiom LLC bought a new position in shares of TELA Bio in the second quarter worth approximately $40,000. Citadel Advisors LLC increased its position in shares of TELA Bio by 161.3% in 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 during the last quarter. Stonepine Capital Management LLC raised its stake in TELA Bio by 1.4% in the second quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock valued at $4,042,000 after purchasing an additional 28,537 shares in the last quarter. Finally, Birchview Capital LP lifted its position in TELA Bio by 24.0% during the first quarter. Birchview Capital LP now owns 155,000 shares of the company’s stock valued at $189,000 after purchasing an additional 30,000 shares during the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

TELA Bio Stock Up 0.9%

Shares of NASDAQ TELA opened at $1.15 on Monday. 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 stock has a market capitalization of $46.39 million, a PE ratio of -1.29 and a beta of 0.87. TELA Bio has a one year low of $0.86 and a one year high of $3.12. The business’s fifty day moving average price is $1.31 and its 200-day moving average price is $1.60.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $20.69 million during the quarter, compared to analysts’ expectations of $21.78 million. TELA Bio had a negative return on equity of 272.13% and a negative net margin of 50.61%. On average, equities research analysts anticipate that TELA Bio will post -1.37 EPS for the current year.

About TELA Bio

TELA Bio, Inc, a commercial-stage medical technology company, focuses on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's anatomy. The company provides a portfolio of OviTex Reinforced Tissue Matrix (OviTex) products for hernia repair and abdominal wall reconstruction; and OviTex PRS Reinforced Tissue Matrix products to address the unmet needs in plastic and reconstructive surgery, as well as OviTex for Laparoscopic and Robotic Procedures, a sterile reinforced tissue matrix derived from ovine rumen with polypropylene fiber intended to be used in laparoscopic and robotic-assisted hernia surgical repairs.