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

TELA Bio, Inc. (NASDAQ:TELA) has earned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. One equities 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.25.

TELA has been the topic of several recent research reports. Loop Capital set a $3.00 price target on TELA Bio in a report on Monday, December 1st. Piper Sandler restated a “neutral” rating and set a $1.25 target price (down from $2.00) on shares of TELA Bio in a research report on Friday, November 14th. Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a research report on Monday, December 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research note on Thursday. Finally, Citizens Jmp reduced their price objective 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.

TELA Bio Price Performance

Shares of TELA opened at $0.98 on Tuesday. The company has a debt-to-equity ratio of 26.65, a quick ratio of 2.62 and a current ratio of 3.30. The stock’s fifty day moving average is $1.11 and its 200-day moving average is $1.44. TELA Bio has a one year low of $0.86 and a one year high of $2.96. The firm has a market capitalization of $39.36 million, a price-to-earnings ratio of -1.10 and a beta of 0.88.

TELA Bio (NASDAQ:TELA) last announced 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). The firm had revenue of $20.69 million during the quarter, compared to the consensus estimate of $21.78 million. TELA Bio had a negative net margin of 50.61% and a negative return on equity of 272.13%. Equities analysts anticipate that TELA Bio will post -1.37 EPS for the current year.

Insider Buying and Selling at TELA Bio

In related news, major shareholder Ew Healthcare Partners Fund 2, purchased 3,604,000 shares of TELA Bio stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $1.11 per share, for a total transaction of $4,000,440.00. Following the transaction, the insider directly owned 7,714,709 shares of the company’s stock, valued at approximately $8,563,326.99. This trade represents a 87.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TELA Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TELA. Solstein Capital LLC bought a new stake in TELA Bio during the 2nd quarter worth approximately $32,000. WealthTrust Axiom LLC bought a new position in TELA Bio in the second quarter valued at approximately $40,000. Citadel Advisors LLC boosted its holdings in shares of TELA Bio by 161.3% in the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after buying an additional 21,781 shares during the period. Destiny Wealth Partners LLC bought a new stake in shares of TELA Bio during the second quarter worth $102,000. Finally, Susquehanna International Group LLP raised its holdings in shares of 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 acquiring an additional 72,594 shares during the period. Institutional investors own 94.35% of the company’s stock.

TELA Bio Company Profile

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.