TELA Bio (NASDAQ:TELA) Trading Down 7% – Here’s What Happened
by Danessa Lincoln · The Markets DailyTELA Bio, Inc. (NASDAQ:TELA – Get Free Report) shares dropped 7% during trading on Monday . The company traded as low as $0.7740 and last traded at $0.80. Approximately 169,571 shares were traded during trading, an increase of 64% from the average daily volume of 103,666 shares. The stock had previously closed at $0.86.
Wall Street Analysts Forecast Growth
TELA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TELA Bio in a research report on Tuesday, April 21st. 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 research report on Wednesday, March 25th. Piper Sandler lowered their price target on TELA Bio from $1.25 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Lake Street Capital lowered their price target on TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Citizens Jmp lowered their price target on TELA Bio from $5.00 to $3.00 and set a “market outperform” rating for the company in a research report on Friday, March 27th. Three 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. According to data from MarketBeat.com, TELA Bio currently has an average rating of “Hold” and an average price target of $2.20.
Get Our Latest Stock Report on TELA
TELA Bio Price Performance
The stock has a market cap of $35.82 million, a P/E ratio of -1.01 and a beta of 1.33. The firm has a 50-day moving average price of $0.82 and a 200-day moving average price of $0.90. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.92 and a current ratio of 3.61.
TELA Bio (NASDAQ:TELA – Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 49.30%.The firm had revenue of $19.06 million during the quarter, compared to the consensus estimate of $18.60 million. On average, analysts forecast that TELA Bio, Inc. will post -0.69 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC raised its position in shares of TELA Bio by 161.3% in 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. XTX Topco Ltd bought a new position in shares of TELA Bio in the 4th quarter worth approximately $48,000. Susquehanna International Group LLP raised its position in shares of TELA Bio by 551.2% in the 3rd quarter. Susquehanna International Group LLP now owns 85,763 shares of the company’s stock worth $128,000 after acquiring an additional 72,594 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of TELA Bio by 106.7% in the 3rd quarter. GSA Capital Partners LLP now owns 105,809 shares of the company’s stock worth $158,000 after acquiring an additional 54,613 shares in the last quarter. Finally, Embree Financial Group increased 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 valued at $131,000 after buying an additional 97,318 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.
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.