TELA Bio (NASDAQ:TELA) Shares Down 1.5% – Should You Sell?

TELA Bio, Inc. (NASDAQ:TELA)’s share price traded down 1.5% on Monday . The stock traded as low as $0.7010 and last traded at $0.7201. Approximately 45,253 shares changed hands during trading, a decline of 47% from the average daily volume of 85,783 shares. The stock had previously closed at $0.7310.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TELA shares. Citizens Jmp cut their price objective on TELA Bio from $5.00 to $3.00 and set a “market outperform” rating on the stock in a report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TELA Bio in a report on Tuesday, April 21st. Piper Sandler dropped their target price on TELA Bio from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Lake Street Capital cut their price target on shares of TELA Bio from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Canaccord Genuity Group cut their price target on shares of TELA Bio from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.20.

TELA Bio Stock Down 1.5%

The company has a market capitalization of $32.24 million, a price-to-earnings ratio of -0.91 and a beta of 1.34. The business’s 50-day moving average is $0.84 and its 200-day moving average is $0.84. The company has a quick ratio of 2.92, a current ratio of 3.61 and a debt-to-equity ratio of 8.82.

TELA Bio (NASDAQ:TELA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The company had revenue of $19.06 million for the quarter, compared to analyst estimates of $18.60 million. TELA Bio had a negative return on equity of 1,320.81% and a negative net margin of 49.30%. As a group, equities analysts predict that TELA Bio, Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of TELA Bio

A number of hedge funds have recently modified their holdings of TELA. Essex Woodlands Management Inc. raised its position in TELA Bio by 87.7% during the fourth quarter. Essex Woodlands Management Inc. now owns 7,714,709 shares of the company’s stock valued at $9,103,000 after acquiring an additional 3,604,000 shares in the last quarter. Perkins Capital Management Inc. lifted its holdings in TELA Bio by 1.5% in the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock valued at $879,000 after acquiring an additional 20,910 shares during the period. WealthTrust Axiom LLC boosted its position in TELA Bio by 39.1% in the 4th quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock worth $381,000 after purchasing an additional 90,650 shares in the last quarter. Renaissance Technologies LLC boosted its position in TELA Bio by 101.4% in the 4th quarter. Renaissance Technologies LLC now owns 128,700 shares of the company’s stock worth $152,000 after purchasing an additional 64,800 shares in the last quarter. Finally, Embree Financial Group boosted its position in TELA Bio by 695.1% in the 4th quarter. Embree Financial Group now owns 111,318 shares of the company’s stock worth $131,000 after purchasing an additional 97,318 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.