TELA Bio (NASDAQ:TELA) Releases Earnings Results, Misses Expectations By $0.03 EPS

TELA Bio (NASDAQ:TELA) posted its quarterly earnings data on Monday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03), FiscalAI reports. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 49.30%.The firm had revenue of $19.29 million for the quarter, compared to the consensus estimate of $20.01 million.

TELA Bio Stock Performance

Shares of TELA Bio stock traded up $0.06 during midday trading on Monday, hitting $0.93. The company had a trading volume of 382,819 shares, compared to its average volume of 163,990. TELA Bio has a 1-year low of $0.50 and a 1-year high of $2.14. The business’s 50 day simple moving average is $0.80 and its two-hundred day simple moving average is $0.81. The stock has a market cap of $41.64 million, a PE ratio of -1.18 and a beta of 1.34. The company has a debt-to-equity ratio of 8.82, a current ratio of 3.61 and a quick ratio of 2.92.

Institutional Trading of TELA Bio

A number of hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in TELA Bio in the 4th quarter worth $48,000. Citadel Advisors LLC grew its position 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 buying an additional 21,781 shares in the last quarter. Susquehanna International Group LLP increased its stake in TELA Bio by 551.2% during the third 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 during the period. Finally, Renaissance Technologies LLC raised its holdings in TELA Bio by 101.4% in the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after acquiring an additional 64,800 shares in the last quarter. 94.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.20.

About TELA Bio

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.