TELA Bio (NASDAQ:TELA) Stock Price Up 1.2% – Here’s Why

TELA Bio, Inc. (NASDAQ:TELA)’s stock price traded up 1.2% during mid-day trading on Tuesday . The company traded as high as $0.8368 and last traded at $0.8235. 61,789 shares traded hands during trading, a decline of 81% from the average session volume of 329,114 shares. The stock had previously closed at $0.8141.

Analyst Ratings Changes

Several research analysts have recently weighed in on TELA shares. Loop Capital set a $3.00 price objective on shares of TELA Bio in a report on Monday, December 1st. Lake Street Capital restated a “buy” rating on shares of TELA Bio in a research report on Monday, December 1st. Citizens Jmp dropped their target price on shares of TELA Bio from $7.00 to $5.00 and set a “market outperform” rating for the company in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TELA Bio in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group reduced their target price on shares of TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, TELA Bio has an average rating of “Hold” and an average target price of $3.25.

TELA Bio Stock Up 1.2%

The business has a 50-day simple moving average of $1.05 and a 200-day simple moving average of $1.34. The company has a market cap of $33.22 million, a PE ratio of -0.93 and a beta of 0.88. The company has a quick ratio of 2.62, a current ratio of 3.30 and a debt-to-equity ratio of 26.65.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results 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 net margin of 50.61% and a negative return on equity of 272.13%. The company had revenue of $20.69 million during the quarter, compared to analysts’ expectations of $21.78 million. Equities research analysts anticipate that TELA Bio, Inc. will post -1.37 EPS for the current year.

Insider Activity at TELA Bio

In other TELA Bio news, major shareholder Ew Healthcare Partners Fund 2, acquired 3,604,000 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $1.11 per share, with a total value of $4,000,440.00. Following the completion of the purchase, the insider owned 7,714,709 shares in the company, valued at $8,563,326.99. This trade represents a 87.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TELA Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TELA. Solstein Capital LLC purchased a new position in TELA Bio during the 2nd quarter worth $32,000. WealthTrust Axiom LLC acquired a new stake in TELA Bio in the second quarter valued at $40,000. Citadel Advisors LLC raised its position in TELA Bio by 161.3% during 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 last quarter. Stonepine Capital Management LLC lifted its stake in TELA Bio by 1.4% in the 2nd quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock valued at $4,042,000 after buying an additional 28,537 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of TELA Bio by 106.7% during the 3rd quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock worth $158,000 after purchasing an additional 54,613 shares during the last quarter. 94.35% of the stock is owned by institutional investors and hedge funds.

TELA Bio Company Profile

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.