TELA Bio (NASDAQ:TELA) Given New $5.00 Price Target at Citizens Jmp

TELA Bio (NASDAQ:TELA) had its price objective decreased by equities research analysts at Citizens Jmp from $7.00 to $5.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective points to a potential upside of 420.29% from the company’s current price.

Several other research analysts have also recently commented on TELA. Piper Sandler restated a “neutral” rating and issued a $1.25 target price on shares of TELA Bio in a research report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TELA Bio presently has a consensus rating of “Hold” and an average target price of $4.42.

TELA Bio Trading Down 13.4%

Shares of TELA traded down $0.15 during trading hours on Friday, hitting $0.96. The stock had a trading volume of 674,927 shares, compared to its average volume of 157,029. TELA Bio has a 12-month low of $0.86 and a 12-month high of $3.20. The firm has a market cap of $38.07 million, a P/E ratio of -0.86 and a beta of 0.89. The company has a debt-to-equity ratio of 4.14, a quick ratio of 2.59 and a current ratio of 3.19. The company’s fifty day simple moving average is $1.46 and its 200 day simple moving average is $1.58.

TELA Bio (NASDAQ:TELA) last issued its earnings results on Monday, August 11th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). TELA Bio had a negative net margin of 54.12% and a negative return on equity of 329.48%. The business had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $20.67 million. Equities research analysts forecast that TELA Bio will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Solstein Capital LLC bought a new stake in TELA Bio in the 2nd quarter worth approximately $32,000. WealthTrust Axiom LLC bought a new position in shares of TELA Bio during the 2nd quarter worth approximately $40,000. Destiny Wealth Partners LLC purchased a new position in shares of TELA Bio in the 2nd quarter valued at approximately $102,000. HBK Sorce Advisory LLC purchased a new stake in TELA Bio during the 3rd quarter valued at about $154,000. Finally, GSA Capital Partners LLP lifted its position in shares of TELA Bio by 106.7% during the 3rd quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock valued at $158,000 after buying an additional 54,613 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

TELA Bio Company Profile

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.