TELA Bio, Inc. (NASDAQ:TELA) Receives Average Recommendation of “Hold” from Analysts

TELA Bio, Inc. (NASDAQ:TELA) has earned an average rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. One equities research 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 twelve-month price objective among brokerages that have issued a report on the stock in the last year is $2.20.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Essex Woodlands Management Inc. lifted its stake in shares of TELA Bio by 87.7% in the fourth quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock valued at $9,103,000 after buying an additional 3,604,000 shares in the last quarter. Perkins Capital Management Inc. lifted its stake in shares of TELA Bio by 1.5% in the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock valued at $879,000 after buying an additional 20,910 shares in the last quarter. WealthTrust Axiom LLC lifted its stake in shares of TELA Bio by 39.1% in the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock valued at $381,000 after buying an additional 90,650 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of TELA Bio by 101.4% in the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after buying an additional 64,800 shares in the last quarter. Finally, Embree Financial Group lifted its stake in shares of TELA Bio by 695.1% in the fourth quarter. Embree Financial Group now owns 111,318 shares of the company’s stock valued at $131,000 after buying an additional 97,318 shares in the last quarter. 94.35% of the stock is owned by institutional investors.

TELA Bio Stock Performance

TELA opened at $0.97 on Monday. TELA Bio has a twelve month low of $0.50 and a twelve month high of $2.20. The company has a quick ratio of 2.92, a current ratio of 3.61 and a debt-to-equity ratio of 8.82. The company has a fifty day moving average of $0.78 and a 200-day moving average of $0.92. The stock has a market cap of $43.43 million, a PE ratio of -1.23 and a beta of 1.33.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Tuesday, May 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The company had revenue of $19.06 million for the quarter, compared to the consensus estimate of $18.60 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 49.30%. On average, sell-side analysts predict that TELA Bio will post -0.69 EPS for the current year.

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.