TELA Bio (NASDAQ:TELA) Issues Earnings Results

TELA Bio (NASDAQ:TELA) issued its earnings results on Monday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03), FiscalAI reports. TELA Bio had a negative net margin of 49.30% and a negative return on equity of 1,320.81%. The company had revenue of $19.29 million for the quarter, compared to analyst estimates of $20.01 million.

TELA Bio Stock Up 6.9%

TELA stock traded up $0.06 during trading hours on Monday, hitting $0.93. The company’s stock had a trading volume of 382,819 shares, compared to its average volume of 163,990. The company has a quick ratio of 2.92, a current ratio of 3.61 and a debt-to-equity ratio of 8.82. The company has a market capitalization of $41.64 million, a PE ratio of -1.18 and a beta of 1.34. TELA Bio has a 12 month low of $0.50 and a 12 month high of $2.14. The stock has a 50 day moving average price of $0.80 and a two-hundred day moving average price of $0.81.

Institutional Investors Weigh In On TELA Bio

Several institutional investors and hedge funds have recently modified their holdings of TELA. Citadel Advisors LLC increased its position in TELA Bio by 161.3% during the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after buying an additional 21,781 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of TELA Bio during the 4th quarter worth about $48,000. Susquehanna International Group LLP boosted its stake in shares of TELA Bio by 551.2% during the 3rd 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 in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of TELA Bio by 101.4% during the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock valued at $152,000 after acquiring an additional 64,800 shares during the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, TELA Bio presently has a consensus rating of “Hold” and a consensus target price of $2.20.

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.