TELA Bio (NASDAQ:TELA) Trading Up 4.2% - Should You Buy?

Key Points

• TELA Bio's shares experienced a 4.2% increase during mid-day trading, reaching as high as $2.12 before closing at $1.98, with trading volume significantly above average.
• Wall Street Zen recently downgraded the stock from a "hold" to a "sell" rating, while overall analyst sentiment reflects an average rating of "Hold" with a price target of $7.25.
• The company's latest quarterly earnings report showed a loss of ($0.25) EPS, missing analyst expectations, although revenue of $18.52 million exceeded estimates.

TELA Bio, Inc. (NASDAQ:TELA - Get Free Report) shares rose 4.2% on Tuesday . The company traded as high as $2.12 and last traded at $1.98. Approximately 91,409 shares changed hands during trading, an increase of 73% from the average daily volume of 52,968 shares. The stock had previously closed at $1.90.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of TELA Bio from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One equities research 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $7.25.

TELA Bio Stock Performance

The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.40 and a current ratio of 4.22. The firm has a market cap of $73.58 million, a P/E ratio of -1.32 and a beta of 0.93. The firm's fifty day moving average price is $1.83 and its 200 day moving average price is $1.82.

TELA Bio (NASDAQ:TELA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.04). TELA Bio had a negative net margin of 61.00% and a negative return on equity of 402.45%. The business had revenue of $18.52 million during the quarter, compared to the consensus estimate of $17.35 million. Sell-side analysts expect that TELA Bio, Inc. will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TELA. Commonwealth Equity Services LLC raised its stake in shares of TELA Bio by 91.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company's stock worth $86,000 after acquiring an additional 13,555 shares in the last quarter. Prudential Financial Inc. purchased a new stake in TELA Bio during the 4th quarter worth approximately $57,000. JPMorgan Chase & Co. grew its position in TELA Bio by 39,329.5% during the 4th quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company's stock worth $404,000 after purchasing an additional 133,327 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of TELA Bio by 78.4% in the fourth quarter. Geode Capital Management LLC now owns 311,405 shares of the company's stock worth $941,000 after acquiring an additional 136,890 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of TELA Bio by 185.5% in the fourth quarter. Renaissance Technologies LLC now owns 425,140 shares of the company's stock worth $1,284,000 after acquiring an additional 276,240 shares during the period. 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.