TELA Bio (NASDAQ:TELA) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

TELA Bio, Inc. (NASDAQ:TELA) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $0.86 and traded as low as $0.8101. TELA Bio shares last traded at $0.8101, with a volume of 330,113 shares.

Analyst Ratings Changes

A number of analysts have commented on TELA shares. Weiss Ratings raised shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. UBS Group set a $2.00 price target on TELA Bio in a report on Friday, September 25th. Craig Hallum assumed 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, Wall Street Zen raised TELA Bio to a “sell” rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.14.

TELA Bio Price Performance

The firm has a market capitalization of $36.57 million, a price-to-earnings ratio of -1.05 and a beta of 1.36. The business’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $0.86.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.20) earnings per share 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 the consensus estimate of $20.01 million. TELA Bio had a negative net margin of 51.53% and a negative return on equity of 1,320.81%. Equities research analysts expect that TELA Bio, Inc. will post -0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joseph Capper purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $1.06 per share, with a total value of $53,000.00. Following the purchase, the director 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 115,000 shares of company stock worth $119,500. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TELA Bio

Several hedge funds and other institutional investors have recently modified their holdings of TELA. Wavvest Wealth LLC bought a new position in shares of TELA Bio in the 3rd quarter worth $96,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in TELA Bio in the 2nd quarter valued at $91,000. BlackRock Inc. bought a new stake in TELA Bio during the 2nd quarter valued at $281,000. Stonepine Capital Management LLC bought a new stake in TELA Bio during the 2nd quarter valued at $1,996,820. Finally, Nantahala Capital Management LLC acquired a new position in TELA Bio during the second quarter worth $4,420,586. Institutional investors own 94.35% of the company’s stock.

About TELA Bio

TELA Bio, Inc is a medical technology company that develops and commercializes advanced tissue-reinforcement products for soft-tissue repair and reconstruction. The company’s products are designed to support the repair of damaged or weakened tissue while preserving a more natural tissue response.

TELA Bio’s principal product platform is OviTex Reinforced Tissue Matrix, which combines biologic tissue with polymer reinforcement in a proprietary, textile-like design. OviTex products are used in procedures involving hernia and abdominal wall repair, as well as other soft-tissue reconstruction applications.