Brokerages Set TELA Bio, Inc. (NASDAQ:TELA) Price Target at $3.25

TELA Bio, Inc. (NASDAQ:TELA) has been given an average rating of “Hold” by the five analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.25.

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and set a $1.25 price target (down previously from $2.00) on shares of TELA Bio in a research report on Friday, November 14th. Lake Street Capital restated a “buy” rating on shares of TELA Bio in a report on Monday, December 1st. Citizens Jmp cut their target price on shares of TELA Bio from $7.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Friday, November 14th. Finally, Loop Capital set a $3.00 target price on shares of TELA Bio in a report on Monday, December 1st.

TELA Bio Stock Performance

Shares of TELA opened at $1.14 on Friday. TELA Bio has a 12-month low of $0.86 and a 12-month high of $3.10. The firm has a market capitalization of $45.99 million, a P/E ratio of -1.28 and a beta of 0.87. The firm has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.54. The company has a current ratio of 3.30, a quick ratio of 2.62 and a debt-to-equity ratio of 26.65.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). TELA Bio had a negative net margin of 50.61% and a negative return on equity of 272.13%. The business had revenue of $20.69 million during the quarter, compared to analyst estimates of $21.78 million. Sell-side analysts forecast that TELA Bio will post -1.37 EPS for the current year.

Insider Transactions at TELA Bio

In related news, major shareholder Ew Healthcare Partners Fund 2, acquired 3,604,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $1.11 per share, for a total transaction of $4,000,440.00. Following the purchase, the insider owned 7,714,709 shares of the company’s stock, valued at $8,563,326.99. This represents a 87.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Solstein Capital LLC purchased a new position in TELA Bio in the second quarter valued at $32,000. WealthTrust Axiom LLC acquired a new position in shares of TELA Bio during the 2nd quarter worth about $40,000. Citadel Advisors LLC increased its holdings in shares of TELA Bio by 161.3% in the 3rd quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after acquiring an additional 21,781 shares during the last quarter. Destiny Wealth Partners LLC purchased a new stake in TELA Bio during the second quarter worth approximately $102,000. Finally, Susquehanna International Group LLP lifted its stake in TELA Bio by 551.2% during the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after purchasing an additional 72,594 shares during the last quarter. Hedge funds and other 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.