Wall Street Zen Downgrades TELA Bio (NASDAQ:TELA) to Sell

Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other analysts have also issued reports on TELA. Piper Sandler lowered TELA Bio from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $5.00 to $2.00 in a report on Friday, March 21st. Canaccord Genuity Group reduced their target price on TELA Bio from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.25.

TELA Bio Stock Down 8.1%

TELA stock opened at $1.70 on Friday. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. The stock has a market capitalization of $67.24 million, a price-to-earnings ratio of -1.01 and a beta of 0.78. The business’s fifty day moving average price is $1.22 and its two-hundred day moving average price is $2.06. TELA Bio has a fifty-two week low of $0.86 and a fifty-two week high of $5.59.

TELA Bio last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The firm had revenue of $18.52 million for the quarter, compared to the consensus estimate of $17.35 million. TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. On average, equities analysts anticipate that TELA Bio will post -1.37 earnings per share for the current year.

Institutional Trading of TELA Bio

Several large investors have recently bought and sold shares of the business. Jane Street Group LLC boosted its stake in TELA Bio by 30.5% in the fourth quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock valued at $93,000 after buying an additional 7,174 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of TELA Bio by 91.1% in the fourth 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 during the period. Cubist Systematic Strategies LLC lifted its stake in shares of TELA Bio by 95.3% in the fourth 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 period. Northern Trust Corp lifted its stake in TELA Bio by 50.6% in the fourth quarter. Northern Trust Corp now owns 47,181 shares of the company’s stock valued at $142,000 after buying an additional 15,856 shares during the period. Finally, Prudential Financial Inc. acquired a new position in TELA Bio in the fourth quarter valued at approximately $57,000. 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.