TELA Bio, Inc. (TELA) – What Are Brokerages Saying About This Stock?

TELA Bio, Inc. (NASDAQ:TELA) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $2.14.

Several equities analysts have issued reports on TELA shares. UBS Group set a $2.00 target price on TELA Bio in a research report on Friday, September 25th. Weiss Ratings raised TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Wall Street Zen raised TELA Bio from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Craig Hallum assumed coverage on TELA Bio in a research note on Friday, September 25th. They issued a “buy” rating and a $2.00 price target on the stock.

TELA Bio Trading Down 4.6%

Shares of NASDAQ:TELA traded down $0.04 during midday trading on Friday, hitting $0.82. The stock had a trading volume of 129,176 shares, compared to its average volume of 150,287. The company has a market capitalization of $30.17 million, a PE ratio of -1.11 and a beta of 1.46. The stock has a 50 day moving average price of $1.03 and a two-hundred day moving average price of $0.85. TELA Bio has a 1 year low of $0.50 and a 1 year high of $1.50.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $18.96 million for the quarter, compared to analyst estimates of $20.00 million. TELA Bio had a negative net margin of 53.57% and a negative return on equity of 1,320.81%. As a group, equities analysts expect that TELA Bio will post -0.70 EPS for the current year.

Insider Transactions at TELA Bio

In other TELA Bio news, Director Joseph Capper bought 50,000 shares of TELA Bio stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $1.06 per share, with a total value of $53,000.00. Following the completion of the acquisition, the director owned 154,827 shares in the company, valued at $164,116.62. The trade was a 47.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 100,000 shares of company stock valued at $109,000 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On TELA Bio

A number of institutional investors and hedge funds have recently made changes to their positions in TELA. Nantahala Capital Management LLC acquired a new position in TELA Bio during the second quarter worth about $4,420,586. Stonepine Capital Management LLC acquired a new stake in shares of TELA Bio during the 2nd quarter valued at approximately $1,996,820. BlackRock Inc. acquired a new stake in shares of TELA Bio during the 2nd quarter valued at approximately $281,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in shares of TELA Bio during the 2nd quarter valued at approximately $91,000. Finally, Marshall Wace LLP purchased a new stake in shares of TELA Bio during the 3rd quarter worth approximately $141,000. 94.35% of the stock is owned by institutional investors and hedge funds.

About TELA Bio

TELA Bio is a medical technology company that develops and markets products for soft-tissue reconstruction. Its portfolio includes OviTex Reinforced Tissue Matrices, which combine biologic materials derived from ovine (sheep) tissue with polymer reinforcement. The products are designed to support tissue repair and are used in procedures including hernia and abdominal wall reconstruction. The company also offers products for plastic and reconstructive surgery, including OviTex PRS, and other solutions for soft-tissue repair.