TELA Bio (NASDAQ:TELA) Stock Picked Up by Analysts at Craig Hallum

Research analysts at Craig Hallum started coverage on shares of TELA Bio (NASDAQ:TELA) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $2.00 price target on the stock. Craig Hallum’s price target would indicate a potential upside of 57.48% from the stock’s current price.

Separately, Weiss Ratings raised TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2.17.

TELA Bio Stock Performance

Shares of TELA opened at $1.27 on Friday. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.38 and a current ratio of 2.99. The stock has a market capitalization of $57.33 million, a P/E ratio of -1.65 and a beta of 1.36. The company’s fifty day moving average is $0.84 and its two-hundred day moving average is $0.81. TELA Bio has a 1 year low of $0.50 and a 1 year high of $1.60.

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

Insider Activity at TELA Bio

In other TELA Bio news, Director Joseph Capper acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $1.06 per share, for a total transaction of $53,000.00. Following the completion of the purchase, the director directly owned 154,827 shares in the company, valued at $164,116.62. This represents a 47.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders bought 115,000 shares of company stock valued at $119,500. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC acquired a new stake in TELA Bio during the 2nd quarter valued at approximately $4,420,586. Stonepine Capital Management LLC acquired a new position in TELA Bio during the 2nd quarter worth $1,996,820. Perkins Capital Management Inc. increased its position in shares of TELA Bio by 1.5% in the 1st quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock worth $879,000 after purchasing an additional 20,910 shares during the last quarter. BlackRock Inc. bought a new stake in shares of TELA Bio in the 2nd quarter worth about $281,000. Finally, WealthTrust Axiom LLC lifted its position in shares of TELA Bio by 39.1% during the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock worth $381,000 after purchasing an additional 90,650 shares during the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

About TELA Bio

TELA Bio, Inc is a medical technology company focused on developing and commercializing implantable products for soft-tissue reconstruction. Its products are designed to support the repair and reinforcement of damaged or weakened soft tissue, including tissue affected by hernias, abdominal wall defects and other reconstructive procedures.

The company’s principal product platform is OviTex Reinforced Tissue Matrix, a family of biologic implants that combines extracellular matrix tissue with a polymer reinforcement structure.