TELA Bio (NASDAQ:TELA) Now Covered by Craig Hallum

Key Points

• Craig Hallum initiated coverage of TELA Bio with a “buy” rating and a $2.00 price target, implying approximately 57.5% upside from the stock’s cited price. The stock carries a consensus “Moderate Buy” rating and an average target of $2.17.
• TELA Bio reported a quarterly loss of $0.20 per share, missing expectations by $0.03, while revenue of $19.29 million also fell short of the $20.01 million consensus estimate. Analysts expect a full-year loss of approximately $0.76 per share.
• Insiders and institutional investors have been buying shares: a director purchased 25,000 shares, while insiders bought 115,000 shares during the quarter. Institutional investors and hedge funds own approximately 94.35% of the company.

Equities research analysts at Craig Hallum started coverage on shares of TELA Bio (NASDAQ:TELA - Get Free Report) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a "buy" rating and a $2.00 price target on the stock. Craig Hallum's price target would suggest a potential upside of 57.48% from the company's current price.

Separately, Weiss Ratings raised shares of TELA Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $2.17.

TELA Bio Stock Down 2.3%

TELA stock opened at $1.27 on Friday. TELA Bio has a 52 week low of $0.50 and a 52 week high of $1.60. The company has a quick ratio of 2.38, a current ratio of 2.99 and a debt-to-equity ratio of 8.82. The firm has a 50-day simple moving average of $0.84 and a 200-day simple moving average of $0.81. The stock has a market capitalization of $57.33 million, a P/E ratio of -1.65 and a beta of 1.36.

TELA Bio (NASDAQ:TELA - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $19.29 million during the quarter, compared to analysts' expectations 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 analysts forecast that TELA Bio will post -0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TELA Bio news, Director Joseph Capper bought 25,000 shares of TELA Bio stock in a transaction on Thursday, September 17th. The shares were bought at an average cost of $1.22 per share, for a total transaction of $30,500.00. Following the acquisition, the director directly owned 179,827 shares in the company, valued at $219,388.94. This represents a 16.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 115,000 shares of company stock worth $119,500. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TELA Bio

Several institutional investors have recently modified their holdings of TELA. Perkins Capital Management Inc. lifted its holdings in shares of TELA Bio by 1.5% in the 1st quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company's stock valued at $879,000 after purchasing an additional 20,910 shares during the last quarter. WealthTrust Axiom LLC boosted its holdings in shares of TELA Bio by 39.1% in the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company's stock valued at $381,000 after acquiring an additional 90,650 shares during the period. UP Strategic Wealth Investment Advisors LLC acquired a new stake in shares of TELA Bio in the second quarter valued at approximately $91,000. BlackRock Inc. purchased a new position in shares of TELA Bio during the second quarter worth approximately $281,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of TELA Bio in the 2nd quarter valued at $1,996,820. Institutional investors and hedge funds own 94.35% of the company's stock.

About TELA Bio

TELA Bio, Inc is a medical technology company focused on developing and commercializing implantable products for soft-tissue reconstruction. Its products are designed to support the repair and reinforcement of damaged or weakened soft tissue, including tissue affected by hernias, abdominal wall defects and other reconstructive procedures.

The company's principal product platform is OviTex Reinforced Tissue Matrix, a family of biologic implants that combines extracellular matrix tissue with a polymer reinforcement structure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.