Piper Sandler Cuts TELA Bio (NASDAQ:TELA) Price Target to $1.00
by Renee Jackson · The Cerbat GemTELA Bio (NASDAQ:TELA – Free Report) had its target price lowered by Piper Sandler from $1.25 to $1.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.
Several other equities analysts have also commented on the stock. Lake Street Capital dropped their price target on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday. Loop Capital set a $3.00 price target on shares of TELA Bio in a report on Monday, December 1st. Canaccord Genuity Group lowered their price objective on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of TELA Bio in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, TELA Bio currently has an average rating of “Hold” and an average target price of $2.20.
Get Our Latest Stock Analysis on TELA Bio
TELA Bio Stock Down 10.2%
TELA opened at $0.67 on Wednesday. The company has a debt-to-equity ratio of 8.82, a current ratio of 4.20 and a quick ratio of 2.62. The stock has a market capitalization of $29.98 million, a price-to-earnings ratio of -0.81 and a beta of 0.88. The business has a 50-day moving average of $0.84 and a two-hundred day moving average of $1.13. TELA Bio has a 12 month low of $0.60 and a 12 month high of $2.20.
TELA Bio (NASDAQ:TELA – Get Free Report) last posted its quarterly earnings data on Tuesday, March 24th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. TELA Bio had a negative net margin of 48.37% and a negative return on equity of 433.58%. The company had revenue of $20.87 million during the quarter, compared to the consensus estimate of $21.04 million. On average, research analysts expect that TELA Bio will post -1.37 earnings per share for the current year.
Institutional Investors Weigh In On TELA Bio
Several institutional investors and hedge funds have recently modified their holdings of TELA. WealthTrust Axiom LLC acquired a new stake in shares of TELA Bio in the second quarter valued at about $40,000. Stonepine Capital Management LLC lifted its position in 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. HBK Sorce Advisory LLC purchased a new position in TELA Bio in the 3rd quarter worth approximately $154,000. GSA Capital Partners LLP boosted its holdings in 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 during the period. Finally, Citadel Advisors LLC grew its position in TELA Bio by 161.3% in the third quarter. Citadel Advisors LLC now owns 35,281 shares of the company’s stock valued at $53,000 after acquiring an additional 21,781 shares in the last quarter. Hedge funds and other institutional investors 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.