Wall Street Zen Upgrades TELA Bio (NASDAQ:TELA) to "Hold"

TELA Bio (NASDAQ:TELA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

Several other research analysts have also commented on the stock. Piper Sandler lowered shares of TELA Bio from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $5.00 to $2.00 in a research note on Friday, March 21st. Canaccord Genuity Group decreased their price objective on shares of TELA Bio from $12.00 to $7.00 and set a "buy" rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, TELA Bio has a consensus rating of "Moderate Buy" and an average price target of $7.25.

TELA Bio Stock Down 1.6%

NASDAQ TELA traded down $0.03 on Friday, reaching $1.86. The stock had a trading volume of 81,313 shares, compared to its average volume of 229,766. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22. TELA Bio has a 1 year low of $0.86 and a 1 year high of $5.80. The business has a 50 day moving average price of $1.15 and a 200 day moving average price of $2.09. The company has a market capitalization of $73.57 million, a price-to-earnings ratio of -1.10 and a beta of 0.78.

TELA Bio (NASDAQ:TELA - Get Free Report) last announced its quarterly 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 net margin of 60.49% and a negative return on equity of 556.18%. The firm had revenue of $18.52 million for the quarter, compared to analyst estimates of $17.35 million. On average, analysts forecast that TELA Bio will post -1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On TELA Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. bought a new position in shares of TELA Bio in the fourth quarter valued at approximately $57,000. Commonwealth Equity Services LLC grew its stake in 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 buying an additional 13,555 shares during the last quarter. Walleye Capital LLC bought a new position in TELA Bio in the 4th quarter worth $91,000. Jane Street Group LLC raised its holdings in TELA Bio by 30.5% in the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company's stock worth $93,000 after acquiring an additional 7,174 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in TELA Bio by 95.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company's stock worth $95,000 after acquiring an additional 15,283 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors and hedge funds.

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.