TELA Bio (NASDAQ:TELA) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

TELA Bio (NASDAQ:TELA – Get Free Report) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

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

Get Our Latest Stock Report on TELA

TELA Bio Stock Performance

Shares of TELA opened at $0.81 on Friday. The firm’s 50-day moving average price is $1.01 and its 200-day moving average price is $0.86. The firm has a market capitalization of $36.57 million, a price-to-earnings ratio of -1.05 and a beta of 1.46. TELA Bio has a 1-year low of $0.50 and a 1-year high of $1.50.

TELA Bio (NASDAQ:TELA – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.20) earnings per share (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 company had revenue of $19.29 million during the quarter, compared to analysts’ expectations of $20.01 million. On average, research analysts forecast that TELA Bio will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling at TELA Bio

In other TELA Bio news, Director Joseph Capper purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $1.06 per share, with a total value of $53,000.00. Following the purchase, the director owned 154,827 shares in the company, valued at approximately $164,116.62. This represents a 47.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 115,000 shares of company stock worth $119,500. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

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

About TELA Bio

(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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