Citizens Jmp Lowers TELA Bio (NASDAQ:TELA) Price Target to $5.00

TELA Bio (NASDAQ:TELA) had its price objective lowered by investment analysts at Citizens Jmp from $7.00 to $5.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price would indicate a potential upside of 420.29% from the stock’s previous close.

TELA has been the subject of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research note on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating and set a $1.25 price objective on shares of TELA Bio in a report on Friday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TELA Bio currently has a consensus rating of “Hold” and an average price target of $4.42.

TELA Bio Trading Down 13.4%

TELA Bio stock traded down $0.15 during trading hours on Friday, hitting $0.96. The stock had a trading volume of 674,927 shares, compared to its average volume of 157,029. The business’s 50 day simple moving average is $1.46 and its 200-day simple moving average is $1.58. The stock has a market cap of $38.07 million, a price-to-earnings ratio of -0.86 and a beta of 0.89. TELA Bio has a one year low of $0.86 and a one year high of $3.20. The company has a quick ratio of 2.59, a current ratio of 3.19 and a debt-to-equity ratio of 4.14.

TELA Bio (NASDAQ:TELA) last announced its earnings results on Monday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The company had revenue of $20.20 million for the quarter, compared to the consensus estimate of $20.67 million. TELA Bio had a negative return on equity of 329.48% and a negative net margin of 54.12%. On average, equities analysts predict that TELA Bio will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On TELA Bio

Large investors have recently made changes to their positions in the company. Solstein Capital LLC purchased a new position in shares of TELA Bio during the 2nd quarter worth $32,000. WealthTrust Axiom LLC purchased a new stake in TELA Bio in the second quarter valued at approximately $40,000. Stonepine Capital Management LLC grew its position in TELA Bio by 1.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock worth $4,042,000 after purchasing an additional 28,537 shares during the last quarter. Birchview Capital LP increased its holdings in shares of TELA Bio by 24.0% in 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 period. Finally, Destiny Wealth Partners LLC acquired a new position in TELA Bio during the 2nd quarter worth approximately $102,000. 94.35% of the stock is owned by hedge funds and other institutional investors.

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.