TELA Bio (NASDAQ:TELA) Given Overweight Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of TELA Bio (NASDAQ:TELA - Free Report) in a research report sent to investors on Friday, Benzinga reports. They currently have a $10.00 price target on the stock, down from their previous price target of $12.00.

Separately, JMP Securities restated a market outperform rating and set a $15.00 price objective on shares of TELA Bio in a research note on Friday, March 22nd.

TELA Bio Stock Performance

NASDAQ:TELA traded up $0.83 during trading hours on Friday, hitting $5.77. 405,757 shares of the company were exchanged, compared to its average volume of 147,480. The stock has a market capitalization of $142.23 million, a price-to-earnings ratio of -2.80 and a beta of 1.00. TELA Bio has a 52-week low of $4.23 and a 52-week high of $11.26. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.23 and a quick ratio of 3.45. The company's 50 day moving average price is $5.24 and its 200-day moving average price is $5.87.

TELA Bio (NASDAQ:TELA - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.25. TELA Bio had a negative net margin of 79.83% and a negative return on equity of 201.62%. The company had revenue of $16.60 million for the quarter, compared to the consensus estimate of $15.90 million. During the same quarter in the previous year, the firm earned ($0.63) EPS. As a group, research analysts forecast that TELA Bio will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On TELA Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sectoral Asset Management Inc. grew its holdings in shares of TELA Bio by 194.3% during the third quarter. Sectoral Asset Management Inc. now owns 525,000 shares of the company's stock worth $4,200,000 after buying an additional 346,628 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of TELA Bio in the 3rd quarter valued at $1,756,000. HighMark Wealth Management LLC purchased a new stake in shares of TELA Bio during the 1st quarter worth $1,099,000. AIGH Capital Management LLC grew its stake in shares of TELA Bio by 10.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,377,945 shares of the company's stock worth $9,122,000 after purchasing an additional 125,000 shares in the last quarter. Finally, First Light Asset Management LLC increased its holdings in TELA Bio by 3.0% in the fourth quarter. First Light Asset Management LLC now owns 2,554,641 shares of the company's stock valued at $16,912,000 after buying an additional 74,377 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company's stock.

About TELA Bio

TELA Bio, Inc, a commercial-stage medical technology company, focuses on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's anatomy. The company provides a portfolio of OviTex Reinforced Tissue Matrix (OviTex) products for hernia repair and abdominal wall reconstruction; and OviTex PRS Reinforced Tissue Matrix products to address the unmet needs in plastic and reconstructive surgery, as well as OviTex for Laparoscopic and Robotic Procedures, a sterile reinforced tissue matrix derived from ovine rumen with polypropylene fiber intended to be used in laparoscopic and robotic-assisted hernia surgical repairs.