TELA Bio (NASDAQ:TELA) Price Target Lowered to $3.00 at Citizens Jmp

TELA Bio (NASDAQ:TELA) had its target price lowered by research analysts at Citizens Jmp from $5.00 to $3.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target points to a potential upside of 322.54% from the stock’s previous close.

TELA has been the subject of several other research reports. Loop Capital set a $3.00 price objective on shares of TELA Bio in a research report on Monday, December 1st. Canaccord Genuity Group decreased their target price on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a research report on Thursday, January 22nd. Lake Street Capital cut their price target on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Piper Sandler reduced their price target on shares of TELA Bio from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.20.

TELA Bio Price Performance

Shares of NASDAQ TELA opened at $0.71 on Friday. The stock has a market capitalization of $28.64 million, a PE ratio of -0.86 and a beta of 0.88. The company has a debt-to-equity ratio of 26.65, a current ratio of 3.30 and a quick ratio of 2.62. The business has a fifty day moving average price of $0.84 and a two-hundred day moving average price of $1.14. TELA Bio has a fifty-two week low of $0.62 and a fifty-two week high of $2.20.

TELA Bio (NASDAQ:TELA) last released its earnings results on Tuesday, March 24th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $20.87 million during the quarter, compared to the consensus estimate of $21.04 million. TELA Bio had a negative return on equity of 396.31% and a negative net margin of 48.37%. As a group, equities analysts predict that TELA Bio will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of TELA Bio

A number of hedge funds and other institutional investors have recently modified their holdings of TELA. WealthTrust Axiom LLC bought a new position in shares of TELA Bio in the 2nd quarter valued at $40,000. Stonepine Capital Management LLC grew its position in TELA Bio by 1.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock worth $4,042,000 after acquiring an additional 28,537 shares during the last quarter. HBK Sorce Advisory LLC bought a new stake in TELA Bio during the 3rd quarter worth $154,000. GSA Capital Partners LLP increased its holdings in TELA Bio by 106.7% in the 3rd quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock worth $158,000 after purchasing an additional 54,613 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in TELA Bio by 161.3% in the 3rd quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after purchasing an additional 21,781 shares in the last quarter. 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.