TELA Bio, Inc. (NASDAQ:TELA) Stock Has Average Target Price of $2.17

Key Points

• Analysts hold a “Moderate Buy” consensus on TELA Bio, with four buys, one hold and one sell among six covering firms. The average 12-month price target is $2.17, versus a recent share price of $1.26.
• TELA Bio reported a quarterly loss of $0.20 per share, missing the $0.17 consensus estimate, while revenue of $19.29 million fell short of expectations. The company continues to post significant losses, with analysts forecasting a full-year loss of $0.76 per share.
• Insider and institutional interest has increased: a director purchased 25,000 shares, insiders acquired 115,000 shares over the past 90 days, and institutional investors own 94.35% of the company.

Shares of TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $2.17.

TELA has been the topic of several analyst reports. Weiss Ratings upgraded TELA Bio from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Craig Hallum assumed coverage on TELA Bio in a research note on Friday. They set a "buy" rating and a $2.00 target price for the company.

TELA Bio Stock Down 0.7%

NASDAQ:TELA traded down $0.01 on Friday, reaching $1.26. The stock had a trading volume of 29,856 shares, compared to its average volume of 187,639. The company has a current ratio of 2.99, a quick ratio of 2.38 and a debt-to-equity ratio of 8.82. The company has a 50-day moving average of $0.84 and a 200 day moving average of $0.81. The stock has a market cap of $56.92 million, a P/E ratio of -1.66 and a beta of 1.36. TELA Bio has a 12-month low of $0.50 and a 12-month high of $1.60.

TELA Bio (NASDAQ:TELA - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The business had revenue of $19.29 million for the quarter, compared to analysts' expectations of $20.01 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 51.53%. On average, research analysts predict that TELA Bio will post -0.76 earnings per share for the current year.

Insider Transactions at TELA Bio

In related news, Director Joseph Capper acquired 25,000 shares of TELA Bio stock in a transaction on Thursday, September 17th. The shares were purchased at an average cost of $1.22 per share, for a total transaction of $30,500.00. Following the purchase, the director directly owned 179,827 shares of the company's stock, valued at $219,388.94. The trade was a 16.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 115,000 shares of company stock valued at $119,500 over the last 90 days. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On TELA Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC bought a new position in shares of TELA Bio during the second quarter worth about $4,420,586. Stonepine Capital Management LLC bought a new stake in TELA Bio in the second quarter valued at about $1,996,820. BlackRock Inc. bought a new stake in TELA Bio in the second quarter valued at about $281,000. UP Strategic Wealth Investment Advisors LLC acquired a new stake in TELA Bio during the second quarter valued at approximately $91,000. Finally, Perkins Capital Management Inc. raised its stake in TELA Bio by 1.5% during the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company's stock valued at $879,000 after buying an additional 20,910 shares in the last quarter. Institutional investors 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.

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