TELA Bio, Inc. (NASDAQ:TELA) Stock Has Consensus Price Target of $2.14

TELA Bio, Inc. (NASDAQ:TELA) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $2.14.

Several analysts have recently weighed in on the company. UBS Group set a $2.00 target price on TELA Bio in a research note on Friday, September 25th. Craig Hallum began coverage on shares of TELA Bio in a research report on Friday, September 25th. They set a “buy” rating and a $2.00 price target for the company. Finally, Weiss Ratings cut shares of TELA Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th.

TELA Bio Stock Performance

Shares of TELA Bio stock opened at $0.98 on Tuesday. TELA Bio has a 1 year low of $0.50 and a 1 year high of $1.50. The business has a 50 day moving average price of $0.98 and a 200 day moving average price of $0.86.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $19.29 million for the quarter, compared to analysts’ expectations of $20.01 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 51.53%. On average, analysts anticipate that TELA Bio will post -0.76 EPS for the current year.

Insider Buying and Selling

In other TELA Bio news, Director Joseph Capper bought 25,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were bought at an average price of $1.22 per share, for a total transaction of $30,500.00. Following the acquisition, the director directly owned 179,827 shares of the company’s stock, valued at approximately $219,388.94. This trade represents a 16.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 115,000 shares of company stock worth $119,500. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TELA Bio

Institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC bought a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $4,420,586. Stonepine Capital Management LLC bought a new stake in TELA Bio in the second quarter worth approximately $1,996,820. Wavvest Wealth LLC acquired a new position in shares of TELA Bio during the 3rd quarter worth $96,000. BlackRock Inc. acquired a new stake in shares of TELA Bio in the 2nd quarter valued at $281,000. Finally, UP Strategic Wealth Investment Advisors LLC acquired a new position in TELA Bio during the second quarter worth $91,000. Institutional investors and hedge funds 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.