TELA Bio (NASDAQ:TELA) Stock Rating Raised to Sell at Wall Street Zen

Wall Street Zen upgraded shares of TELA Bio (NASDAQ:TELA) to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Craig Hallum began coverage on shares of TELA Bio in a report on Friday, September 25th. They issued a “buy” rating and a $2.00 price objective on the stock. UBS Group set a $2.00 price target on TELA Bio in a research report on Friday, September 25th. Finally, Weiss Ratings raised shares of TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2.14.

TELA Bio Trading Down 11.9%

TELA Bio stock opened at $0.81 on Friday. TELA Bio has a 52 week low of $0.50 and a 52 week high of $1.50. The stock has a market cap of $36.57 million, a P/E ratio of -1.05 and a beta of 1.36. The stock has a 50 day moving average of $1.01 and a 200-day moving average of $0.86.

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

Insider Activity at TELA Bio

In other TELA Bio news, Director Joseph Capper acquired 25,000 shares of TELA Bio stock in a transaction that occurred on Thursday, September 17th. The stock was purchased at an average cost of $1.22 per share, with a total value of $30,500.00. Following the purchase, the director owned 179,827 shares in the company, valued at approximately $219,388.94. The trade was a 16.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired a total of 115,000 shares of company stock valued at $119,500 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TELA Bio

A number of institutional investors have recently bought and sold shares of TELA. Nantahala Capital Management LLC purchased a new position in shares of TELA Bio during the 2nd quarter valued at $4,420,586. Stonepine Capital Management LLC acquired a new stake in TELA Bio during the second quarter valued at $1,996,820. BlackRock Inc. acquired a new stake in TELA Bio during the second quarter valued at $281,000. UP Strategic Wealth Investment Advisors LLC purchased a new position in TELA Bio in the second quarter valued at about $91,000. Finally, Wavvest Wealth LLC purchased a new position in TELA Bio in the third quarter valued at about $96,000. 94.35% of the stock is currently owned by institutional investors and hedge funds.

TELA Bio Company Profile

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.