TELA Bio (NASDAQ:TELA) Trading Down 7% – Here’s Why

TELA Bio, Inc. (NASDAQ:TELA)’s share price fell 7% during mid-day trading on Monday . The stock traded as low as $0.7740 and last traded at $0.80. 169,571 shares were traded during trading, an increase of 64% from the average session volume of 103,666 shares. The stock had previously closed at $0.86.

Analysts Set New Price Targets

TELA has been the subject of several research analyst reports. Citizens Jmp lowered their target price on shares of TELA Bio from $5.00 to $3.00 and set a “market outperform” rating for the company in a research note on Friday, March 27th. Canaccord Genuity Group lowered their target price on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Piper Sandler lowered their target price on shares of TELA Bio from $1.25 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Lake Street Capital lowered their target price on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TELA Bio in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, TELA Bio has an average rating of “Hold” and an average price target of $2.20.

TELA Bio Trading Down 4.3%

The company has a debt-to-equity ratio of 8.82, a current ratio of 3.61 and a quick ratio of 2.92. The company has a market cap of $38.46 million, a PE ratio of -1.09 and a beta of 1.33. The company’s 50 day simple moving average is $0.83 and its two-hundred day simple moving average is $0.90.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.07). TELA Bio had a negative net margin of 49.30% and a negative return on equity of 1,320.81%. The business had revenue of $19.06 million during the quarter, compared to analysts’ expectations of $18.60 million. As a group, sell-side analysts anticipate that TELA Bio, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Perkins Capital Management Inc. boosted its stake in shares of TELA Bio by 1.5% in the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock valued at $879,000 after purchasing an additional 20,910 shares during the period. XTX Topco Ltd purchased a new position in shares of TELA Bio in the fourth quarter valued at approximately $48,000. WealthTrust Axiom LLC boosted its stake in shares of TELA Bio by 39.1% in the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock valued at $381,000 after purchasing an additional 90,650 shares during the period. Renaissance Technologies LLC boosted its stake in shares of TELA Bio by 101.4% in the fourth quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after purchasing an additional 64,800 shares during the period. Finally, Essex Woodlands Management Inc. boosted its stake in shares of TELA Bio by 87.7% in the fourth quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock valued at $9,103,000 after purchasing an additional 3,604,000 shares during the period. Hedge funds and other 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.