TELA Bio (NASDAQ:TELA) Price Target Lowered to $5.00 at Citizens Jmp

TELA Bio (NASDAQ:TELA) had its price objective decreased by Citizens Jmp from $7.00 to $5.00 in a research note released on Friday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other analysts have also commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research note on Wednesday, October 8th. Piper Sandler reiterated a “neutral” rating and set a $1.25 price target (down previously from $2.00) on shares of TELA Bio in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.42.

TELA Bio Stock Down 10.0%

TELA Bio stock traded down $0.11 during midday trading on Friday, reaching $1.00. The company’s stock had a trading volume of 1,631,097 shares, compared to its average volume of 113,001. The business has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.58. TELA Bio has a fifty-two week low of $0.86 and a fifty-two week high of $3.20. The company has a quick ratio of 2.59, a current ratio of 3.19 and a debt-to-equity ratio of 4.14. The company has a market cap of $39.59 million, a P/E ratio of -1.12 and a beta of 0.89.

TELA Bio (NASDAQ:TELA) last posted its earnings results on Thursday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $20.69 million during the quarter, compared to analyst estimates of $21.78 million. TELA Bio had a negative net margin of 50.61% and a negative return on equity of 209.80%. TELA Bio has set its FY 2025 guidance at EPS. On average, research analysts expect that TELA Bio will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of TELA Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Solstein Capital LLC purchased a new position in TELA Bio during the 2nd quarter worth $32,000. WealthTrust Axiom LLC bought a new stake in TELA Bio during the 2nd quarter valued at about $40,000. Destiny Wealth Partners LLC purchased a new stake in shares of TELA Bio in the second quarter worth about $102,000. HBK Sorce Advisory LLC acquired a new stake in shares of TELA Bio in the third quarter valued at approximately $154,000. Finally, GSA Capital Partners LLP boosted its stake in shares of TELA Bio by 106.7% in the 3rd quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock valued at $158,000 after buying an additional 54,613 shares during the period. Institutional investors own 94.35% of the company’s stock.

About TELA Bio

TELA Bio, Inc, a commercial-stage medical technology company, focuses on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's anatomy. The company provides a portfolio of OviTex Reinforced Tissue Matrix (OviTex) products for hernia repair and abdominal wall reconstruction; and OviTex PRS Reinforced Tissue Matrix products to address the unmet needs in plastic and reconstructive surgery, as well as OviTex for Laparoscopic and Robotic Procedures, a sterile reinforced tissue matrix derived from ovine rumen with polypropylene fiber intended to be used in laparoscopic and robotic-assisted hernia surgical repairs.