TELA Bio (NASDAQ:TELA) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of TELA Bio, Inc. (NASDAQ:TELA) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $0.86 and traded as low as $0.8101. TELA Bio shares last traded at $0.8101, with a volume of 330,113 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TELA shares. Craig Hallum started coverage on shares of TELA Bio in a report on Friday, September 25th. They set a “buy” rating and a $2.00 target price on the stock. UBS Group set a $2.00 price target on shares of TELA Bio in a report on Friday, September 25th. Wall Street Zen raised shares of TELA Bio to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings upgraded shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TELA Bio currently has an average rating of “Moderate Buy” and an average target price of $2.14.

TELA Bio Trading Down 11.9%

The firm has a market capitalization of $36.57 million, a price-to-earnings ratio of -1.05 and a beta of 1.36. The business has a 50-day moving average price of $1.01 and a two-hundred day moving average price of $0.86.

TELA Bio (NASDAQ:TELA) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $19.29 million for the quarter, compared to analyst estimates of $20.01 million. TELA Bio had a negative net margin of 51.53% and a negative return on equity of 1,320.81%. On average, equities research analysts predict that TELA Bio, Inc. will post -0.76 earnings per share for the current fiscal year.

Insider Transactions at TELA Bio

In related news, Director Joseph Capper bought 25,000 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were bought at an average cost of $1.22 per share, for a total transaction of $30,500.00. Following the completion of the purchase, the director owned 179,827 shares of the company’s stock, valued at $219,388.94. This represents a 16.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 115,000 shares of company stock valued at $119,500 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Trading of TELA Bio

A number of large investors have recently modified their holdings of TELA. Nantahala Capital Management LLC acquired a new stake in shares of TELA Bio in the 2nd quarter worth about $4,420,586. Stonepine Capital Management LLC bought a new stake in TELA Bio in the 2nd quarter valued at about $1,996,820. BlackRock Inc. acquired a new position in TELA Bio during the 2nd quarter valued at about $281,000. Wavvest Wealth LLC acquired a new position in TELA Bio during the 3rd quarter valued at about $96,000. Finally, UP Strategic Wealth Investment Advisors LLC acquired a new position in TELA Bio during the 2nd quarter valued at about $91,000. Institutional investors and hedge funds own 94.35% of the company’s stock.

About TELA Bio

TELA Bio, Inc is a medical technology company that develops and commercializes advanced tissue-reinforcement products for soft-tissue repair and reconstruction. The company’s products are designed to support the repair of damaged or weakened tissue while preserving a more natural tissue response.

TELA Bio’s principal product platform is OviTex Reinforced Tissue Matrix, which combines biologic tissue with polymer reinforcement in a proprietary, textile-like design. OviTex products are used in procedures involving hernia and abdominal wall repair, as well as other soft-tissue reconstruction applications.