TELA Bio, Inc. (NASDAQ:TELA) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

TELA Bio, Inc. (NASDAQ:TELA) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $2.14.

TELA has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. UBS Group set a $2.00 target price on TELA Bio in a report on Friday, September 25th. Finally, Craig Hallum assumed coverage on TELA Bio in a research note on Friday, September 25th. They issued a “buy” rating and a $2.00 price target on the stock.

TELA Bio Trading Up 8.7%

Shares of TELA opened at $1.25 on Friday. TELA Bio has a 12-month low of $0.50 and a 12-month high of $1.60. The firm has a market capitalization of $56.42 million, a P/E ratio of -1.62 and a beta of 1.35. The firm has a 50-day moving average price of $0.89 and a 200 day moving average price of $0.82.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $19.29 million for the quarter, compared to analysts’ expectations of $20.01 million. Equities research analysts predict that TELA Bio will post -0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at TELA Bio

In other news, Director Joseph Capper purchased 25,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was acquired at an average cost of $1.22 per share, for a total transaction of $30,500.00. Following the completion of the acquisition, the director directly owned 179,827 shares in the company, valued at $219,388.94. This represents a 16.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 115,000 shares of company stock valued at $119,500. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Nantahala Capital Management LLC bought a new stake in TELA Bio in the second quarter valued at $4,420,586. Stonepine Capital Management LLC bought a new stake in TELA Bio in the 2nd quarter valued at about $1,996,820. Perkins Capital Management Inc. lifted its position in TELA Bio by 1.5% in the 1st quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock valued at $879,000 after purchasing an additional 20,910 shares during the last quarter. WealthTrust Axiom LLC boosted its stake in TELA Bio by 39.1% during the 4th quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock valued at $381,000 after purchasing an additional 90,650 shares during the period. Finally, BlackRock Inc. acquired a new position in TELA Bio during the 2nd quarter valued at about $281,000. Institutional investors own 94.35% of the company’s stock.

About TELA Bio

TELA Bio, Inc is a medical technology company focused on developing and commercializing implantable products for soft-tissue reconstruction. Its products are designed to support the repair and reinforcement of damaged or weakened soft tissue, including tissue affected by hernias, abdominal wall defects and other reconstructive procedures.

The company’s principal product platform is OviTex Reinforced Tissue Matrix, a family of biologic implants that combines extracellular matrix tissue with a polymer reinforcement structure.