TELA Bio, Inc. (NASDAQ:TELA) Stock Has Average Price Target of $2.17 According to Analysts

Shares of TELA Bio, Inc. (NASDAQ:TELA) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $2.17.

TELA has been the subject of a number of recent research reports. Weiss Ratings raised shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Craig Hallum initiated coverage on TELA Bio in a research note on Friday. They issued a “buy” rating and a $2.00 target price for the company.

TELA Bio Stock Performance

TELA Bio stock traded down $0.01 during mid-day trading on Friday, reaching $1.26. The company’s stock had a trading volume of 29,856 shares, compared to its average volume of 187,639. The firm has a market cap of $56.92 million, a price-to-earnings ratio of -1.66 and a beta of 1.36. The business has a 50 day moving average price of $0.84 and a 200-day moving average price of $0.81. The company has a current ratio of 2.99, a quick ratio of 2.38 and a debt-to-equity ratio of 8.82. TELA Bio has a twelve month low of $0.50 and a twelve month high of $1.60.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Monday, August 10th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 51.53%.The business had revenue of $19.29 million for the quarter, compared to analyst estimates of $20.01 million. Sell-side analysts predict that TELA Bio will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling at TELA Bio

In related news, Director Joseph Capper purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were acquired at an average price of $1.22 per share, with a total value of $30,500.00. Following the acquisition, the director owned 179,827 shares in the company, valued at approximately $219,388.94. This trade represents a 16.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders purchased 115,000 shares of company stock worth $119,500. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TELA Bio

Large investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new stake in TELA Bio in the second quarter valued at $4,420,586. Stonepine Capital Management LLC bought a new position in shares of TELA Bio during the second quarter worth about $1,996,820. BlackRock Inc. bought a new position in shares of TELA Bio during the second quarter worth about $281,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in shares of TELA Bio in the 2nd quarter worth about $91,000. Finally, Perkins Capital Management Inc. increased its holdings in shares of TELA Bio by 1.5% in the 1st quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock worth $879,000 after acquiring an additional 20,910 shares during the period. 94.35% of the stock is owned by institutional investors and hedge funds.

About TELA Bio

TELA Bio, Inc is a medical technology company focused on developing and commercializing implantable products for soft-tissue reconstruction. Its products are designed to support the repair and reinforcement of damaged or weakened soft tissue, including tissue affected by hernias, abdominal wall defects and other reconstructive procedures.

The company’s principal product platform is OviTex Reinforced Tissue Matrix, a family of biologic implants that combines extracellular matrix tissue with a polymer reinforcement structure.