TELA Bio, Inc. (NASDAQ:TELA - Get Free Report)'s stock price was down 5.4% during trading on Monday . The company traded as low as $1.92 and last traded at $1.93. Approximately 53,161 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 214,063 shares. The stock had previously closed at $2.04.
Analyst Ratings Changes
A number of equities analysts have commented on TELA shares. Piper Sandler cut shares of TELA Bio from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $5.00 to $2.00 in a research note on Friday, March 21st. Wall Street Zen cut shares of TELA Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Canaccord Genuity Group dropped their price objective on shares of TELA Bio from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, TELA Bio presently has a consensus rating of "Hold" and an average target price of $7.25.
View Our Latest Stock Report on TELA
TELA Bio Stock Down 5.4%
The company's fifty day moving average price is $1.50 and its 200-day moving average price is $1.93. The stock has a market cap of $76.35 million, a P/E ratio of -1.37 and a beta of 0.90. The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.40 and a current ratio of 4.22.
TELA Bio (NASDAQ:TELA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). TELA Bio had a negative return on equity of 402.45% and a negative net margin of 61.00%. The firm had revenue of $18.52 million during the quarter, compared to the consensus estimate of $17.35 million. Equities analysts forecast that TELA Bio, Inc. will post -1.37 EPS for the current year.
Institutional Investors Weigh In On TELA Bio
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TELA. Prudential Financial Inc. bought a new stake in shares of TELA Bio in the 4th quarter valued at about $57,000. Commonwealth Equity Services LLC raised its holdings in shares of TELA Bio by 91.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company's stock valued at $86,000 after purchasing an additional 13,555 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of TELA Bio in the 4th quarter valued at about $91,000. Jane Street Group LLC raised its holdings in shares of TELA Bio by 30.5% in the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company's stock valued at $93,000 after purchasing an additional 7,174 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of TELA Bio by 95.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company's stock valued at $95,000 after purchasing an additional 15,283 shares in the last quarter. Institutional investors own 94.35% of the company's stock.
About TELA Bio
(
Get Free Report)
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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