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

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

Several equities analysts recently issued reports on the company. Weiss Ratings lowered TELA Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Craig Hallum started coverage on TELA Bio in a research report on Friday, September 25th. They issued a “buy” rating and a $2.00 price objective for the company. Finally, UBS Group set a $2.00 price objective on TELA Bio in a research report on Friday, September 25th.

Insider Activity at TELA Bio

In other news, Director Joseph Capper bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $1.06 per share, with a total value of $53,000.00. Following the completion of the purchase, the director directly owned 154,827 shares in the company, valued at $164,116.62. This represents a 47.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 115,000 shares of company stock valued at $119,500 over the last quarter. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On TELA Bio

A number of large investors have recently added to or reduced their stakes in TELA. UP Strategic Wealth Investment Advisors LLC purchased a new position in shares of TELA Bio in the second quarter valued at about $91,000. BlackRock Inc. purchased a new stake in shares of TELA Bio during the second quarter worth about $281,000. Perkins Capital Management Inc. boosted its holdings in shares of TELA Bio by 1.5% during the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock worth $879,000 after purchasing an additional 20,910 shares during the period. Stonepine Capital Management LLC bought a new stake in shares of TELA Bio in the second quarter worth about $1,996,820. Finally, Nantahala Capital Management LLC bought a new stake in shares of TELA Bio in the second quarter worth about $4,420,586. Institutional investors own 94.35% of the company’s stock.

TELA Bio Stock Down 0.5%

TELA Bio stock opened at $0.97 on Tuesday. The firm has a fifty day simple moving average of $0.96 and a two-hundred day simple moving average of $0.85. TELA Bio has a twelve month low of $0.50 and a twelve month high of $1.56. The company has a market capitalization of $43.80 million, a PE ratio of -1.26 and a beta of 1.36.

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

About TELA Bio

TELA Bio, Inc is a medical technology company focused on developing and commercializing devices for soft-tissue reconstruction. Its products are designed to reinforce and repair damaged or weakened tissue while supporting the body’s natural healing processes.

The company’s portfolio is centered on its OviTex Reinforced Tissue Matrix products, which combine biologic tissue with a polymer reinforcement structure. OviTex products are used in a range of surgical applications, including abdominal wall reconstruction, hernia repair, breast reconstruction, and other soft-tissue repair procedures.