TELA Bio (NASDAQ:TELA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TELA Bio (NASDAQ:TELA – Free Report) to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other research analysts have also issued reports on the stock. Weiss Ratings raised shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Craig Hallum assumed coverage on shares of TELA Bio in a research note on Friday, September 25th. They issued a “buy” rating and a $2.00 price target on the stock. Finally, UBS Group set a $2.00 price target on shares of TELA Bio in a research note on Friday, September 25th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2.14.

Read Our Latest Stock Analysis on TELA Bio

TELA Bio Stock Performance

Shares of TELA opened at $0.80 on Friday. TELA Bio has a 1 year low of $0.50 and a 1 year high of $1.50. The company has a market cap of $36.08 million, a price-to-earnings ratio of -1.04 and a beta of 1.36. The firm has a fifty day moving average of $1.01 and a 200-day moving average of $0.86.

TELA Bio (NASDAQ:TELA – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 51.53%. The firm had revenue of $19.29 million for the quarter, compared to the consensus estimate of $20.01 million. Analysts predict that TELA Bio will post -0.76 EPS for the current year.

Insider Transactions at TELA Bio

In other TELA Bio news, Director Joseph Capper purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $1.06 per share, with a total value of $53,000.00. Following the completion of the purchase, the director owned 154,827 shares in the company, valued at $164,116.62. This trade represents a 47.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 115,000 shares of company stock worth $119,500. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TELA Bio

A number of hedge funds and other institutional investors have recently modified their holdings of TELA. Nantahala Capital Management LLC acquired a new stake in TELA Bio in the second quarter worth about $4,420,586. Stonepine Capital Management LLC bought a new position in TELA Bio in the 2nd quarter valued at about $1,996,820. BlackRock Inc. acquired a new position in TELA Bio during the 2nd quarter valued at about $281,000. Wavvest Wealth LLC acquired a new position in TELA Bio during the 3rd quarter valued at about $96,000. Finally, UP Strategic Wealth Investment Advisors LLC acquired a new position in TELA Bio during the 2nd quarter valued at about $91,000. 94.35% of the stock is currently owned by institutional investors.

TELA Bio Company Profile

(Get Free Report)

TELA Bio, Inc is a medical technology company that develops and commercializes advanced tissue-reinforcement products for soft-tissue repair and reconstruction. The company’s products are designed to support the repair of damaged or weakened tissue while preserving a more natural tissue response.

TELA Bio’s principal product platform is OviTex Reinforced Tissue Matrix, which combines biologic tissue with polymer reinforcement in a proprietary, textile-like design. OviTex products are used in procedures involving hernia and abdominal wall repair, as well as other soft-tissue reconstruction applications.

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Analyst Recommendations for TELA Bio (NASDAQ:TELA)

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