TELA Bio (NASDAQ:TELA) Stock Breaks Below 200 Day Moving Average – Here’s Why

Shares of TELA Bio, Inc. (NASDAQ:TELA) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $0.86 and traded as low as $0.8101. TELA Bio shares last traded at $0.8101, with a volume of 330,113 shares.

Analyst Ratings Changes

TELA has been the subject of a number of analyst reports. Craig Hallum started coverage on shares of TELA Bio in a research report on Friday, September 25th. They issued a “buy” rating and a $2.00 price objective for the company. Wall Street Zen raised TELA Bio to a “sell” rating in a research report on Saturday. Weiss Ratings upgraded TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, UBS Group set a $2.00 price target on TELA Bio in a report on Friday, September 25th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2.14.

TELA Bio Stock Down 11.9%

The firm has a market cap of $36.57 million, a P/E ratio of -1.05 and a beta of 1.36. The business’s 50 day moving average is $1.01 and its 200-day moving average is $0.86.

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

Insider Activity at TELA Bio

In other news, Director Joseph Capper purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired 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 owned 154,827 shares of the company’s stock, valued at approximately $164,116.62. This trade represents a 47.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 115,000 shares of company stock worth $119,500 over the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Trading of TELA Bio

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