TELA Bio, Inc. (NASDAQ:TELA) Receives $3.25 Average PT from Brokerages
by Sarita Garza · The Markets DailyShares of TELA Bio, Inc. (NASDAQ:TELA – Get Free Report) have earned a consensus rating of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3.25.
Several research firms have recently issued reports on TELA. Loop Capital set a $3.00 price objective on shares of TELA Bio in a research report on Monday, December 1st. Canaccord Genuity Group cut their target price on shares of TELA Bio from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a report on Monday, December 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a research note on Thursday, January 22nd.
Get Our Latest Stock Report on TELA
Institutional Investors Weigh In On TELA Bio
Hedge funds have recently made changes to their positions in the company. WealthTrust Axiom LLC bought a new position in TELA Bio during the second quarter valued at approximately $40,000. Citadel Advisors LLC raised its holdings in shares of TELA Bio by 161.3% during the 3rd quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock worth $53,000 after acquiring an additional 21,781 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in shares of TELA Bio by 1.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 2,083,762 shares of the company’s stock worth $4,042,000 after acquiring an additional 28,537 shares in the last quarter. XTX Topco Ltd bought a new position in shares of TELA Bio during the 4th quarter valued at approximately $48,000. Finally, GSA Capital Partners LLP grew its holdings in shares of TELA Bio by 106.7% in the third quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock valued at $158,000 after purchasing an additional 54,613 shares in the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.
TELA Bio Stock Up 9.1%
Shares of TELA opened at $0.80 on Wednesday. The business’s 50 day moving average is $0.89 and its 200 day moving average is $1.18. The company has a current ratio of 3.30, a quick ratio of 2.62 and a debt-to-equity ratio of 26.65. TELA Bio has a 12-month low of $0.67 and a 12-month high of $2.48. The company has a market capitalization of $32.40 million, a PE ratio of -0.90 and a beta of 0.88.
About TELA Bio
TELA Bio, Inc (NASDAQ: TELA) is a commercial‐stage medical technology company headquartered in Malvern, Pennsylvania. The company is focused on developing, manufacturing and commercializing regenerative medicine and advanced soft tissue repair solutions. By integrating proprietary biomaterials and processing technologies, TELA Bio aims to offer products that support the body’s natural healing processes in wound closure, hernia repair, reconstructive surgery and other surgical specialties.
The company’s product portfolio includes acellular dermal matrices, hemostatic agents and tissue scaffold systems.