Shares of TELA Bio (NASDAQ:TELA) traded up 5.3% on Tuesday . The stock traded as high as $13.13 and last traded at $12.96, 111,819 shares were traded during trading. An increase of 29% from the average session volume of 86,949 shares. The stock had previously closed at $12.31.
A number of equities analysts recently issued reports on TELA shares. JMP Securities initiated coverage on TELA Bio in a report on Tuesday. They issued an “outperform” rating and a $22.00 price target for the company. Canaccord Genuity initiated coverage on shares of TELA Bio in a report on Tuesday. They set a “buy” rating and a $19.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of TELA Bio in a research report on Tuesday. They set a “buy” rating and a $23.00 price objective for the company. Finally, Piper Jaffray Companies started coverage on shares of TELA Bio in a research report on Tuesday. They set an “overweight” rating and a $17.00 price objective for the company.
In other news, Director Matt Zuga purchased 86,121 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average price of $12.09 per share, with a total value of $1,041,202.89. Also, major shareholder Orbimed Advisors Llc purchased 384,615 shares of the business’s stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $12.09 per share, for a total transaction of $4,649,995.35.
TELA Bio, Inc, a medical technology company, focuses on the design, development, and marketing of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. It offers reinforced tissue matrix products for a variety of reconstruction procedures, including hernia repair, abdominal wall reconstruction, and plastic and reconstructive surgery.
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