TELA Bio (NASDAQ:TELA) Shares Down 2.9% - Here's Why

Key Points

• TELA Bio's stock fell 2.9% to $1.69, with trading volume down 29% from the average, indicating a declining interest in the company's shares.
• Analysts have downgraded TELA Bio from a "hold" to a "sell" rating, while the current consensus rating remains a "Moderate Buy" with a price target of $4.50.
• The company reported a loss of ($0.22) EPS for the last quarter, missing expectations, and has set an FY 2025 guidance projecting a -1.37 EPS for the current year.

TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) was down 2.9% during trading on Wednesday . The company traded as low as $1.66 and last traded at $1.69. Approximately 64,232 shares traded hands during trading, a decline of 29% from the average daily volume of 91,104 shares. The stock had previously closed at $1.74.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of TELA Bio from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.50.

TELA Bio Stock Up 2.9%

The firm has a market cap of $70.12 million, a PE ratio of -1.58 and a beta of 0.93. The business's 50 day moving average price is $1.84 and its 200 day moving average price is $1.72. The company has a debt-to-equity ratio of 4.14, a current ratio of 3.19 and a quick ratio of 2.59.

TELA Bio (NASDAQ:TELA - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.04). TELA Bio had a negative net margin of 54.12% and a negative return on equity of 329.48%. The firm had revenue of $20.20 million during the quarter, compared to analyst estimates of $20.67 million. TELA Bio has set its FY 2025 guidance at EPS. On average, equities research analysts expect that TELA Bio, Inc. will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On TELA Bio

Institutional investors have recently made changes to their positions in the stock. Stonepine Capital Management LLC raised its stake in TELA Bio by 112.0% during the fourth quarter. Stonepine Capital Management LLC now owns 2,353,099 shares of the company's stock worth $7,106,000 after purchasing an additional 1,243,099 shares during the period. DAFNA Capital Management LLC acquired a new stake in shares of TELA Bio in the fourth quarter valued at approximately $4,352,000. Pentwater Capital Management LP lifted its holdings in TELA Bio by 100.0% in the fourth quarter. Pentwater Capital Management LP now owns 1,000,000 shares of the company's stock worth $3,020,000 after purchasing an additional 500,000 shares during the period. Velan Capital Investment Management LP acquired a new stake in shares of TELA Bio during the first quarter valued at approximately $912,000. Finally, Renaissance Technologies LLC grew its stake in TELA Bio by 185.5% during the 4th quarter. Renaissance Technologies LLC now owns 425,140 shares of the company's stock valued at $1,284,000 after acquiring an additional 276,240 shares in the last quarter. 94.35% of the stock is owned by institutional investors and hedge funds.

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.