TELA Bio (NASDAQ:TELA) Stock Price Down 1.5% – Here’s Why

TELA Bio, Inc. (NASDAQ:TELA)’s stock price was down 1.5% on Monday . The company traded as low as $0.7010 and last traded at $0.7201. Approximately 45,253 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 85,783 shares. The stock had previously closed at $0.7310.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TELA shares. Canaccord Genuity Group cut their target price on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Piper Sandler lowered their price target on shares of TELA Bio from $1.25 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research note on Tuesday, April 21st. Citizens Jmp cut their price objective on shares of TELA Bio from $5.00 to $3.00 and set a “market outperform” rating on the stock in a report on Friday, March 27th. Finally, Lake Street Capital cut their price objective on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, TELA Bio has a consensus rating of “Hold” and an average price target of $2.20.

TELA Bio Stock Performance

The business has a 50-day moving average of $0.84 and a two-hundred day moving average of $0.84. The company has a market cap of $32.24 million, a P/E ratio of -0.91 and a beta of 1.34. The company has a debt-to-equity ratio of 8.82, a current ratio of 3.61 and a quick ratio of 2.92.

TELA Bio (NASDAQ:TELA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The firm had revenue of $19.06 million during the quarter, compared to the consensus estimate of $18.60 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 49.30%. On average, sell-side analysts predict that TELA Bio, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TELA. Perkins Capital Management Inc. raised its holdings 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 last quarter. Citadel Advisors LLC grew its holdings in shares of TELA Bio by 161.3% during the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after buying an additional 21,781 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of TELA Bio during the fourth quarter valued at $48,000. Renaissance Technologies LLC increased its position in shares of TELA Bio by 101.4% in the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after acquiring an additional 64,800 shares during the period. Finally, Susquehanna International Group LLP increased its position in shares of TELA Bio by 551.2% in the 3rd 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 during the period. Institutional investors own 94.35% of the company’s stock.

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.