Lake Street Capital Cuts TELA Bio (NASDAQ:TELA) Price Target to $2.00

TELA Bio (NASDAQ:TELA) had its price target reduced by Lake Street Capital from $3.00 to $2.00 in a report published on Wednesday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group lowered their price target on TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd. Finally, Loop Capital set a $3.00 price objective on TELA Bio in a research report on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $2.20.

TELA Bio Price Performance

Shares of TELA stock opened at $0.67 on Wednesday. The company has a quick ratio of 2.62, a current ratio of 4.20 and a debt-to-equity ratio of 8.82. TELA Bio has a 12-month low of $0.60 and a 12-month high of $2.20. The firm has a fifty day moving average of $0.84 and a 200-day moving average of $1.13. The firm has a market capitalization of $29.98 million, a price-to-earnings ratio of -0.81 and a beta of 0.88.

TELA Bio (NASDAQ:TELA) last issued its quarterly earnings data on Tuesday, March 24th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The business had revenue of $20.87 million for the quarter, compared to the consensus estimate of $21.04 million. TELA Bio had a negative return on equity of 433.58% and a negative net margin of 48.37%. On average, equities research analysts forecast that TELA Bio will post -1.37 earnings per share for the current year.

Institutional Trading of TELA Bio

Several hedge funds and other institutional investors have recently modified their holdings of TELA. Essex Woodlands Management Inc. raised its position in TELA Bio by 87.7% in the 4th quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock valued at $9,103,000 after buying an additional 3,604,000 shares during the last quarter. Perkins Capital Management Inc. lifted its stake in TELA Bio by 67.6% in the 4th quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock valued at $1,649,000 after acquiring an additional 563,490 shares in the last quarter. HBK Sorce Advisory LLC acquired a new position in TELA Bio during the 3rd quarter worth approximately $154,000. Embree Financial Group boosted its position in TELA Bio by 695.1% during the 4th quarter. Embree Financial Group now owns 111,318 shares of the company’s stock worth $131,000 after acquiring an additional 97,318 shares during the last quarter. Finally, WealthTrust Axiom LLC grew its stake in shares of TELA Bio by 39.1% during the 4th quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock worth $381,000 after acquiring an additional 90,650 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

TELA Bio Company Profile

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.