TELA Bio (NASDAQ:TELA) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities research analysts also recently issued reports on TELA. Piper Sandler downgraded TELA Bio from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $5.00 to $2.00 in a research report on Friday, March 21st. Canaccord Genuity Group cut their price objective on shares of TELA Bio from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, TELA Bio has an average rating of "Moderate Buy" and a consensus target price of $7.25.

TELA Bio Stock Performance

Shares of NASDAQ TELA traded down $0.06 during trading hours on Friday, reaching $1.89. The stock had a trading volume of 117,298 shares, compared to its average volume of 229,669. TELA Bio has a twelve month low of $0.86 and a twelve month high of $5.80. The company has a market cap of $74.76 million, a price-to-earnings ratio of -1.12 and a beta of 0.78. The business's fifty day moving average is $1.15 and its two-hundred day moving average is $2.10. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81.

TELA Bio (NASDAQ:TELA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $18.52 million during the quarter, compared to analyst estimates of $17.35 million. As a group, research analysts expect that TELA Bio will post -1.37 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Silverarc Capital Management LLC increased its position in TELA Bio by 172.5% during the fourth quarter. Silverarc Capital Management LLC now owns 3,065,649 shares of the company's stock valued at $9,258,000 after acquiring an additional 1,940,721 shares during the last quarter. AIGH Capital Management LLC grew its position in TELA Bio by 7.8% during the 4th quarter. AIGH Capital Management LLC now owns 2,662,785 shares of the company's stock worth $8,042,000 after purchasing an additional 193,412 shares during the last quarter. Stonepine Capital Management LLC raised its stake in shares of TELA Bio by 112.0% in 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 last quarter. DAFNA Capital Management LLC acquired a new position in TELA Bio during the fourth quarter valued at $4,352,000. Finally, Royce & Associates LP purchased a new position in shares of TELA Bio during the 4th quarter valued at approximately $3,020,000. 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.

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