Analysts Set TELA Bio, Inc. (NASDAQ:TELA) Price Target at $3.25

TELA Bio, Inc. (NASDAQ:TELA) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3.25.

Several research firms recently issued reports on TELA. Citizens Jmp reduced their price target on shares of TELA Bio from $7.00 to $5.00 and set a “market outperform” rating for the company in a research report on Friday, November 14th. Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a report on Wednesday, October 8th. Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a report on Monday, December 1st. Loop Capital set a $3.00 target price on shares of TELA Bio in a research report on Monday, December 1st. Finally, Canaccord Genuity Group lowered their target price on shares of TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th.

TELA Bio Stock Up 5.4%

Shares of NASDAQ TELA opened at $1.18 on Friday. The firm has a market cap of $47.60 million, a PE ratio of -1.33 and a beta of 0.88. The company’s fifty day simple moving average is $1.18 and its 200 day simple moving average is $1.53. The company has a quick ratio of 2.62, a current ratio of 3.30 and a debt-to-equity ratio of 26.65. TELA Bio has a 12-month low of $0.86 and a 12-month high of $3.10.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Thursday, November 13th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). TELA Bio had a negative net margin of 50.61% and a negative return on equity of 272.13%. The firm had revenue of $20.69 million during the quarter, compared to the consensus estimate of $21.78 million. As a group, sell-side analysts forecast that TELA Bio will post -1.37 earnings per share for the current fiscal year.

Insider Buying and Selling at TELA Bio

In related news, major shareholder Ew Healthcare Partners Fund 2, purchased 3,604,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $1.11 per share, for a total transaction of $4,000,440.00. Following the completion of the acquisition, the insider owned 7,714,709 shares of the company’s stock, valued at $8,563,326.99. This represents a 87.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TELA Bio

A number of hedge funds have recently bought and sold shares of TELA. Solstein Capital LLC purchased a new stake in shares of TELA Bio during the 2nd quarter valued at $32,000. WealthTrust Axiom LLC purchased a new position in shares of TELA Bio in the 2nd quarter worth about $40,000. Citadel Advisors LLC grew 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 valued at $53,000 after buying an additional 21,781 shares during the period. Destiny Wealth Partners LLC purchased a new stake in TELA Bio during the second quarter worth about $102,000. Finally, Susquehanna International Group LLP increased its holdings in TELA Bio by 551.2% during the third quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after buying an additional 72,594 shares during the last quarter. 94.35% of the stock is owned by hedge funds and other 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.