TELA Bio (NASDAQ:TELA) Stock Price Down 1.5% – Should You Sell?

TELA Bio, Inc. (NASDAQ:TELA) shares were down 1.5% during mid-day trading on Monday . The company traded as low as $0.7010 and last traded at $0.7201. Approximately 45,253 shares changed hands during trading, a decline of 47% from the average daily volume of 85,783 shares. The stock had previously closed at $0.7310.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TELA. Piper Sandler decreased their price objective 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, March 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research report on Friday. 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 research note on Wednesday, March 25th. Citizens Jmp decreased their price target on shares of TELA Bio from $5.00 to $3.00 and set a “market outperform” rating on the stock in a report on Friday, March 27th. Finally, Canaccord Genuity Group lowered their price objective on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.20.

TELA Bio Price Performance

The company has a current ratio of 3.61, a quick ratio of 2.92 and a debt-to-equity ratio of 8.82. The stock has a market capitalization of $32.80 million, a PE ratio of -0.93 and a beta of 1.34. The business has a fifty day moving average price of $0.83 and a 200-day moving average price of $0.83.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The firm had revenue of $19.06 million for the quarter, compared to analysts’ expectations of $18.60 million. TELA Bio had a negative net margin of 49.30% and a negative return on equity of 1,320.81%. Research analysts expect that TELA Bio, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On TELA Bio

Hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC boosted its stake 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 purchasing an additional 21,781 shares in the last quarter. Susquehanna International Group LLP raised its position in TELA Bio by 551.2% in the 3rd 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 period. Embree Financial Group raised its position in TELA Bio by 695.1% in the 4th quarter. Embree Financial Group now owns 111,318 shares of the company’s stock worth $131,000 after purchasing an additional 97,318 shares during the period. Perkins Capital Management Inc. lifted its stake in TELA Bio by 67.6% in the fourth quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock worth $1,649,000 after purchasing an additional 563,490 shares during the last quarter. Finally, Essex Woodlands Management Inc. lifted its stake in TELA Bio by 87.7% in the fourth quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock worth $9,103,000 after purchasing an additional 3,604,000 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors.

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.