TELA Bio (NASDAQ:TELA) Shares Up 4.2% - Still a 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 traded up 4.2% during mid-day trading on Tuesday . The company traded as high as $2.12 and last traded at $1.98. 91,409 shares changed hands during mid-day trading, an increase of 73% from the average session volume of 52,968 shares. The stock had previously closed at $1.90.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded TELA Bio from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.25.

TELA Bio Stock Performance

The company has a current ratio of 4.22, a quick ratio of 3.40 and a debt-to-equity ratio of 2.28. The stock has a market cap of $76.75 million, a P/E ratio of -1.38 and a beta of 0.90. The stock has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $1.84.

TELA Bio (NASDAQ:TELA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $18.52 million during the quarter, compared to the consensus estimate of $17.35 million. On average, equities 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 and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in TELA Bio by 91.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company's stock worth $86,000 after buying an additional 13,555 shares during the period. Prudential Financial Inc. purchased a new position in shares of TELA Bio during the 4th quarter valued at approximately $57,000. JPMorgan Chase & Co. grew its stake in TELA Bio by 39,329.5% during the 4th quarter. JPMorgan Chase & Co. now owns 133,666 shares of the company's stock valued at $404,000 after acquiring an additional 133,327 shares in the last quarter. Diametric Capital LP purchased a new stake in TELA Bio in the fourth quarter valued at approximately $108,000. Finally, Geode Capital Management LLC raised its position in shares of TELA Bio by 78.4% during the 4th 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 in the last quarter. 94.35% of the stock is currently owned by institutional investors.

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.