TELA Bio, Inc. (NASDAQ:TELA) Receives Average Rating of “Hold” from Brokerages

TELA Bio, Inc. (NASDAQ:TELA) has earned an average recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $2.20.

TELA has been the subject of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research report on Tuesday, April 21st. Piper Sandler lowered their price target on TELA Bio from $1.25 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Lake Street Capital lowered their price target on TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Citizens Jmp lowered their price target on TELA Bio from $5.00 to $3.00 and set a “market outperform” rating for the company in a research report on Friday, March 27th. Finally, Canaccord Genuity Group lowered their price target on TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th.

Institutional Investors Weigh In On TELA Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Perkins Capital Management Inc. boosted its position in shares of TELA Bio by 1.5% in the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock worth $879,000 after buying an additional 20,910 shares during the period. Citadel Advisors LLC boosted its position in shares of 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 buying an additional 21,781 shares during the period. XTX Topco Ltd purchased a new stake in shares of TELA Bio in the fourth quarter worth about $48,000. GSA Capital Partners LLP boosted its position in shares of TELA Bio by 106.7% in the third quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock worth $158,000 after buying an additional 54,613 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of TELA Bio by 101.4% in the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock worth $152,000 after buying an additional 64,800 shares during the period. Hedge funds and other institutional investors own 94.35% of the company’s stock.

TELA Bio Price Performance

TELA stock opened at $0.86 on Thursday. The stock has a 50-day moving average price of $0.73 and a two-hundred day moving average price of $0.98. TELA Bio has a 12-month low of $0.50 and a 12-month high of $2.20. The company has a current ratio of 4.20, a quick ratio of 3.59 and a debt-to-equity ratio of 8.82. The company has a market cap of $38.48 million, a PE ratio of -1.04 and a beta of 0.99.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Tuesday, March 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. TELA Bio had a negative return on equity of 433.58% and a negative net margin of 48.37%.The firm had revenue of $20.87 million during the quarter, compared to the consensus estimate of $21.04 million. As a group, research analysts predict that TELA Bio will post -0.57 EPS for the current 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.