TELA Bio (NASDAQ:TELA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of TELA Bio (NASDAQ:TELA) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on TELA. Craig Hallum initiated coverage on TELA Bio in a research note on Friday, September 25th. They issued a “buy” rating and a $2.00 price target on the stock. UBS Group set a $2.00 price objective on TELA Bio in a report on Friday, September 25th. Finally, Weiss Ratings upgraded TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. Four 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2.14.

TELA Bio Price Performance

TELA Bio stock traded down $0.04 during midday trading on Friday, reaching $0.82. 129,176 shares of the company traded hands, compared to its average volume of 150,287. TELA Bio has a 12 month low of $0.50 and a 12 month high of $1.50. The business has a 50 day moving average of $1.03 and a two-hundred day moving average of $0.85. The firm has a market capitalization of $30.17 million, a price-to-earnings ratio of -1.11 and a beta of 1.46.

TELA Bio (NASDAQ:TELA) last posted its earnings results on Tuesday, November 10th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $18.96 million during the quarter, compared to the consensus estimate of $20.00 million. TELA Bio had a negative net margin of 53.57% and a negative return on equity of 1,320.81%. As a group, equities analysts forecast that TELA Bio will post -0.70 EPS for the current year.

Insider Buying and Selling

In other TELA Bio news, Director Joseph Capper bought 25,000 shares of TELA Bio stock in a transaction on Thursday, September 17th. The stock was acquired at an average cost of $1.22 per share, with a total value of $30,500.00. Following the completion of the acquisition, the director owned 179,827 shares in the company, valued at approximately $219,388.94. This represents a 16.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 100,000 shares of company stock worth $109,000 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TELA Bio

A number of hedge funds have recently modified their holdings of the business. Rollins Financial Advisors LLC purchased a new position in TELA Bio during the third quarter valued at approximately $33,000. StoneX Group Inc. bought a new position in shares of TELA Bio in the third quarter worth approximately $34,000. Wavvest Wealth LLC purchased a new stake in shares of TELA Bio in the third quarter worth $96,000. WealthTrust Axiom LLC increased its stake in shares of TELA Bio by 20.2% in the third quarter. WealthTrust Axiom LLC now owns 550,128 shares of the company’s stock worth $633,000 after purchasing an additional 92,394 shares in the last quarter. Finally, UP Strategic Wealth Investment Advisors LLC purchased a new stake in shares of TELA Bio in the second quarter worth $91,000. Institutional investors own 94.35% of the company’s stock.

About TELA Bio

TELA Bio is a medical technology company that develops and markets products for soft-tissue reconstruction. Its portfolio includes OviTex Reinforced Tissue Matrices, which combine biologic materials derived from ovine (sheep) tissue with polymer reinforcement. The products are designed to support tissue repair and are used in procedures including hernia and abdominal wall reconstruction. The company also offers products for plastic and reconstructive surgery, including OviTex PRS, and other solutions for soft-tissue repair.