TELA Bio (NASDAQ:TELA) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

TELA Bio, Inc. (NASDAQ:TELA) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $0.85 and traded as high as $0.94. TELA Bio shares last traded at $0.8646, with a volume of 111,400 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Craig Hallum initiated coverage on TELA Bio in a research note on Friday, September 25th. They set a “buy” rating and a $2.00 target price on the stock. UBS Group set a $2.00 target price on TELA Bio in a report on Friday, September 25th. Finally, Wall Street Zen upgraded TELA Bio to a “sell” rating in a research note on Saturday, October 31st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, TELA Bio presently has a consensus rating of “Moderate Buy” and an average target price of $2.14.

TELA Bio Stock Performance

The business’s fifty day moving average price is $1.03 and its 200-day moving average price is $0.85.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm had revenue of $18.96 million during the quarter, compared to analysts’ expectations of $20.00 million. TELA Bio had a negative net margin of 53.57% and a negative return on equity of 1,320.81%. As a group, sell-side analysts forecast that TELA Bio, Inc. will post -0.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Joseph Capper purchased 25,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were purchased at an average cost of $1.22 per share, with a total value of $30,500.00. Following the acquisition, the director directly owned 179,827 shares of the company’s stock, valued at $219,388.94. This represents a 16.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 115,000 shares of company stock worth $119,500. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. WealthTrust Axiom LLC grew its stake in shares of TELA Bio by 20.2% during the 3rd quarter. WealthTrust Axiom LLC now owns 550,128 shares of the company’s stock valued at $633,000 after purchasing an additional 92,394 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of TELA Bio in the 3rd quarter worth approximately $354,000. Rollins Financial Advisors LLC bought a new position in shares of TELA Bio in the 3rd quarter worth approximately $33,000. White Pine Capital LLC bought a new position in shares of TELA Bio in the 3rd quarter worth approximately $467,000. Finally, StoneX Group Inc. purchased a new position in shares of TELA Bio in the third quarter worth approximately $34,000. Institutional investors own 94.35% of the company’s stock.

About TELA Bio

TELA Bio, Inc. is a medical technology company that develops and commercializes advanced tissue-reinforcement products for soft-tissue repair and reconstruction. The company’s products are designed to support the repair of damaged or weakened tissue while preserving a more natural tissue response. TELA Bio’s principal product platform is OviTex Reinforced Tissue Matrix, which combines biologic tissue with polymer reinforcement in a proprietary, textile-like design. OviTex products are used in procedures involving hernia and abdominal wall repair, as well as other soft-tissue reconstruction applications.