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

TELA Bio, Inc. (NASDAQ:TELA) has earned an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.25.

TELA has been the topic of several research reports. Canaccord Genuity Group lowered their price target on TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd. Loop Capital set a $3.00 price objective on TELA Bio in a research report on Monday, December 1st. Lake Street Capital restated a “buy” rating on shares of TELA Bio in a research note on Monday, December 1st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $1.25 target price (down from $2.00) on shares of TELA Bio in a research report on Friday, November 14th.

Hedge Funds Weigh In On TELA Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Woodlands Management Inc. increased its stake in 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 acquiring an additional 3,604,000 shares during the period. Perkins Capital Management Inc. lifted its stake in TELA Bio by 67.6% during the fourth quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock worth $1,649,000 after purchasing an additional 563,490 shares during the period. HBK Sorce Advisory LLC acquired a new stake in TELA Bio during the third quarter valued at approximately $154,000. Embree Financial Group boosted its holdings in TELA Bio by 695.1% during the fourth 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 in the last quarter. Finally, WealthTrust Axiom LLC grew its stake in shares of TELA Bio by 39.1% in the 4th quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock valued at $381,000 after purchasing an additional 90,650 shares during the period. 94.35% of the stock is owned by institutional investors.

TELA Bio Stock Performance

TELA opened at $0.74 on Wednesday. The company has a debt-to-equity ratio of 26.65, a quick ratio of 2.62 and a current ratio of 3.30. The company has a market cap of $29.84 million, a PE ratio of -0.83 and a beta of 0.88. The stock has a 50-day moving average of $0.90 and a 200-day moving average of $1.20. TELA Bio has a 52-week low of $0.67 and a 52-week high of $2.48.

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.