TELA Bio, Inc. (NASDAQ:TELA) Receives $2.20 Consensus Price Target from Analysts

Shares of TELA Bio, Inc. (NASDAQ:TELA) have earned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $2.20.

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research report on Thursday, January 22nd. Citizens Jmp decreased their price objective on shares of TELA Bio from $5.00 to $3.00 and set a “market outperform” rating for the company in a report on Friday, March 27th. Canaccord Genuity Group decreased their price objective on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Lake Street Capital decreased their price objective on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, Piper Sandler decreased their price objective on shares of TELA Bio from $1.25 to $1.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th.

TELA Bio Stock Up 9.5%

Shares of NASDAQ:TELA opened at $0.69 on Friday. TELA Bio has a one year low of $0.50 and a one year high of $2.20. The company has a 50 day moving average of $0.78 and a 200-day moving average of $1.08. The company has a debt-to-equity ratio of 8.82, a current ratio of 4.20 and a quick ratio of 3.59. The stock has a market cap of $30.87 million, a price-to-earnings ratio of -0.83 and a beta of 0.99.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. TELA Bio had a negative net margin of 48.37% and a negative return on equity of 433.58%. The company had revenue of $20.87 million during the quarter, compared to analysts’ expectations of $21.04 million. On average, sell-side analysts forecast that TELA Bio will post -1.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TELA. XTX Topco Ltd acquired a new position in TELA Bio during the fourth quarter valued at approximately $48,000. Citadel Advisors LLC grew its holdings in TELA Bio by 161.3% during the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after purchasing an additional 21,781 shares during the period. Susquehanna International Group LLP grew its holdings 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 purchasing an additional 72,594 shares during the period. Embree Financial Group grew its holdings in TELA Bio by 695.1% during the fourth quarter. Embree Financial Group now owns 111,318 shares of the company’s stock valued at $131,000 after purchasing an additional 97,318 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in TELA Bio by 101.4% during the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after purchasing an additional 64,800 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.

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.