TELA Bio (NASDAQ:TELA) Downgraded by Wall Street Zen to "Sell"

Wall Street Zen lowered shares of TELA Bio (NASDAQ:TELA - Free Report) from a hold rating to a sell rating in a research note released on Saturday.

Several other research analysts have also recently weighed in on the company. Canaccord Genuity Group lowered their price objective on TELA Bio from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Piper Sandler cut TELA Bio from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $5.00 to $2.00 in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.25.

TELA Bio Stock Performance

TELA traded down $0.11 during trading hours on Friday, reaching $1.50. The company's stock had a trading volume of 113,086 shares, compared to its average volume of 231,032. TELA Bio has a 52 week low of $0.86 and a 52 week high of $5.56. The company's 50-day moving average is $1.25 and its 200-day moving average is $2.04. 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 $59.34 million, a PE ratio of -1.06 and a beta of 0.78.

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 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. On average, equities analysts forecast that TELA Bio will post -1.37 EPS for the current year.

Institutional Trading of TELA Bio

Several large investors have recently modified their holdings of TELA. Silverarc Capital Management LLC grew its holdings in shares of TELA Bio by 172.5% during the 4th quarter. Silverarc Capital Management LLC now owns 3,065,649 shares of the company's stock worth $9,258,000 after purchasing an additional 1,940,721 shares in the last quarter. DAFNA Capital Management LLC acquired a new stake in shares of TELA Bio during the 4th quarter worth $4,352,000. Stonepine Capital Management LLC grew its holdings in shares of TELA Bio by 112.0% during the 4th 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 in the last quarter. Royce & Associates LP acquired a new stake in shares of TELA Bio during the 4th quarter worth $3,020,000. Finally, Velan Capital Investment Management LP acquired a new stake in TELA Bio in the first quarter valued at about $912,000. 94.35% of the stock is owned by institutional investors and hedge funds.

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.