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

TELA Bio, Inc. (NASDAQ:TELA) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $2.20.

TELA has been the topic of several research reports. Piper Sandler dropped their price target on TELA Bio from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Lake Street Capital dropped their price target on TELA Bio from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Citizens Jmp dropped their price target on TELA Bio from $5.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Friday, March 27th. Canaccord Genuity Group dropped their price target on TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research report on Tuesday, April 21st.

TELA Bio Stock Performance

Shares of TELA opened at $0.97 on Monday. The business’s 50 day moving average is $0.78 and its two-hundred day moving average is $0.92. TELA Bio has a 52-week low of $0.50 and a 52-week high of $2.20. The firm has a market cap of $43.43 million, a price-to-earnings ratio of -1.23 and a beta of 1.30. The company has a quick ratio of 2.92, a current ratio of 3.61 and a debt-to-equity ratio of 8.82.

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

Institutional Investors Weigh In On TELA Bio

Several institutional investors and hedge funds have recently made changes to their positions in TELA. Essex Woodlands Management Inc. raised its position in shares of TELA Bio by 87.7% during the 4th quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock valued at $9,103,000 after acquiring an additional 3,604,000 shares in the last quarter. Perkins Capital Management Inc. raised its position in shares of TELA Bio by 67.6% during the 4th quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock valued at $1,649,000 after acquiring an additional 563,490 shares in the last quarter. Embree Financial Group raised its position in shares of TELA Bio by 695.1% during the 4th quarter. Embree Financial Group now owns 111,318 shares of the company’s stock valued at $131,000 after acquiring an additional 97,318 shares in the last quarter. WealthTrust Axiom LLC raised its position in shares of TELA Bio by 39.1% during the 4th quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock valued at $381,000 after acquiring an additional 90,650 shares in the last quarter. Finally, Susquehanna International Group LLP raised its position in shares of TELA Bio by 551.2% during the 3rd quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock valued at $128,000 after acquiring an additional 72,594 shares in the last quarter. 94.35% of the stock is 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.