TELA Bio (NASDAQ:TELA) Shares Down 4.3% - Here's What Happened

Key Points

• TELA Bio's shares fell 4.3% during trading, closing at $1.54 after reaching a low of $1.52, with trading volume increasing significantly to 208,236 shares.
• Analysts updated their rating on TELA Bio from "hold" to "sell," while the company has an average rating of "Moderate Buy" with a consensus price target of $4.50.
• The company's latest earnings report showed a loss of $0.22 per share, missing expectations, and it had a negative net margin of 54.12% and a debt-to-equity ratio of 4.14.

Shares of TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) fell 4.3% during trading on Tuesday . The company traded as low as $1.52 and last traded at $1.54. 208,236 shares changed hands during trading, an increase of 143% from the average session volume of 85,654 shares. The stock had previously closed at $1.61.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of TELA Bio from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TELA Bio has an average rating of "Moderate Buy" and a consensus price target of $4.50.

TELA Bio Price Performance

The company has a debt-to-equity ratio of 4.14, a current ratio of 3.19 and a quick ratio of 2.59. The company's 50-day moving average is $1.74 and its 200-day moving average is $1.57. The firm has a market capitalization of $61.01 million, a price-to-earnings ratio of -1.37 and a beta of 0.84.

TELA Bio (NASDAQ:TELA - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates 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 company 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, research analysts expect that TELA Bio, Inc. will post -1.37 earnings per share for the current year.

Institutional Trading of TELA Bio

A number of institutional investors have recently modified their holdings of the company. Velan Capital Investment Management LP acquired a new stake in TELA Bio in the 1st quarter valued at $912,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of TELA Bio in the first quarter worth about $244,000. Destiny Wealth Partners LLC acquired a new stake in shares of TELA Bio in the second quarter valued at about $102,000. Birchview Capital LP raised its holdings in shares of TELA Bio by 24.0% during the 1st quarter. Birchview Capital LP now owns 155,000 shares of the company's stock valued at $189,000 after buying an additional 30,000 shares during the period. Finally, Stonepine Capital Management LLC lifted its position in TELA Bio by 1.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company's stock worth $4,042,000 after acquiring an additional 28,537 shares in the last quarter. Hedge funds and other institutional investors own 94.35% of the company's stock.

TELA Bio Company Profile

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.

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