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

Shares of TELA Bio, Inc. (NASDAQ:TELA) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $2.14.

Several research firms recently commented on TELA. Wall Street Zen upgraded shares of TELA Bio from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group set a $2.00 target price on shares of TELA Bio in a report on Friday, September 25th. Weiss Ratings upgraded shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. Finally, Craig Hallum initiated coverage on shares of TELA Bio in a report on Friday, September 25th. They issued a “buy” rating and a $2.00 price target on the stock.

Insider Activity at TELA Bio

In other TELA Bio news, Director Joseph Capper acquired 25,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was acquired at an average cost of $1.22 per share, with a total value of $30,500.00. Following the purchase, the director directly owned 179,827 shares in the company, valued at approximately $219,388.94. This trade represents a 16.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders have purchased 100,000 shares of company stock valued at $109,000 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TELA Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nantahala Capital Management LLC grew its holdings in TELA Bio by 11.1% during the 3rd quarter. Nantahala Capital Management LLC now owns 6,545,596 shares of the company’s stock valued at $7,527,000 after buying an additional 651,482 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in TELA Bio during the second quarter worth $1,996,820. WealthTrust Axiom LLC increased its position in TELA Bio by 20.2% during the third quarter. WealthTrust Axiom LLC now owns 550,128 shares of the company’s stock worth $633,000 after buying an additional 92,394 shares in the last quarter. White Pine Capital LLC acquired a new position in shares of TELA Bio in the third quarter worth $467,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of TELA Bio in the third quarter worth $354,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.

TELA Bio Price Performance

TELA traded down $0.04 during trading on Friday, reaching $0.82. 129,176 shares of the stock were exchanged, compared to its average volume of 150,287. The company has a market capitalization of $30.17 million, a price-to-earnings ratio of -1.11 and a beta of 1.46. TELA Bio has a 1 year low of $0.50 and a 1 year high of $1.50. The business’s 50 day moving average price is $1.03 and its two-hundred day moving average price is $0.85.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 53.57%. The business had revenue of $18.96 million during the quarter, compared to analysts’ expectations of $20.00 million. On average, analysts anticipate that TELA Bio will post -0.70 EPS for the current year.

TELA Bio Company Profile

TELA Bio is a medical technology company that develops and markets products for soft-tissue reconstruction. Its portfolio includes OviTex Reinforced Tissue Matrices, which combine biologic materials derived from ovine (sheep) tissue with polymer reinforcement. The products are designed to support tissue repair and are used in procedures including hernia and abdominal wall reconstruction. The company also offers products for plastic and reconstructive surgery, including OviTex PRS, and other solutions for soft-tissue repair.