Analysts Set TELA Bio, Inc. (NASDAQ:TELA) Price Target at $3.25

TELA Bio, Inc. (NASDAQ:TELA) has been assigned a consensus rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $3.25.

Several analysts have weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $1.25 price target (down from $2.00) on shares of TELA Bio in a research note on Friday, November 14th. Canaccord Genuity Group dropped their target price on TELA Bio from $7.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Loop Capital set a $3.00 price target on TELA Bio in a research report on Monday, December 1st. Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a research report on Monday, December 1st. Finally, Citizens Jmp cut their target price on shares of TELA Bio from $7.00 to $5.00 and set a “market outperform” rating on the stock in a report on Friday, November 14th.

Insider Transactions at TELA Bio

In other news, major shareholder Ew Healthcare Partners Fund 2, acquired 3,604,000 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $1.11 per share, for a total transaction of $4,000,440.00. Following the completion of the transaction, the insider owned 7,714,709 shares of the company’s stock, valued at $8,563,326.99. The trade was a 87.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is currently owned by company insiders.

Institutional Trading of TELA Bio

Several large investors have recently modified their holdings of the business. Embree Financial Group raised its position in TELA Bio by 695.1% during the 4th 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 last quarter. Susquehanna International Group LLP raised its holdings in shares of 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 in the last quarter. Citadel Advisors LLC lifted its stake in TELA Bio by 161.3% in the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after acquiring an additional 21,781 shares during the period. GSA Capital Partners LLP boosted its holdings in TELA Bio by 106.7% in the third quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock valued at $158,000 after acquiring an additional 54,613 shares in the last quarter. Finally, HBK Sorce Advisory LLC purchased a new position in TELA Bio during the 3rd quarter valued at $154,000. 94.35% of the stock is owned by institutional investors.

TELA Bio Stock Down 1.0%

Shares of TELA opened at $0.97 on Tuesday. TELA Bio has a 1 year low of $0.86 and a 1 year high of $2.96. The company has a debt-to-equity ratio of 26.65, a current ratio of 3.30 and a quick ratio of 2.62. The stock has a 50 day simple moving average of $1.10 and a two-hundred day simple moving average of $1.43. The firm has a market cap of $38.97 million, a P/E ratio of -1.09 and a beta of 0.88.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). TELA Bio had a negative return on equity of 272.13% and a negative net margin of 50.61%.The business had revenue of $20.69 million during the quarter, compared to the consensus estimate of $21.78 million. On average, analysts forecast that TELA Bio will post -1.37 earnings per share for the current fiscal 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.