TELA Bio (NASDAQ:TELA) Research Coverage Started at Craig Hallum

Craig Hallum started coverage on shares of TELA Bio (NASDAQ:TELA) in a report released on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $2.00 target price on the stock.

Separately, Weiss Ratings upgraded TELA Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2.14.

TELA Bio Price Performance

TELA opened at $1.26 on Friday. The company has a debt-to-equity ratio of 8.82, a quick ratio of 2.38 and a current ratio of 2.99. TELA Bio has a fifty-two week low of $0.50 and a fifty-two week high of $1.60. The firm’s fifty day moving average is $0.85 and its 200 day moving average is $0.81. The stock has a market cap of $56.88 million, a price-to-earnings ratio of -1.64 and a beta of 1.36.

TELA Bio (NASDAQ:TELA) last issued its earnings results 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 return on equity of 1,320.81% and a negative net margin of 51.53%.The firm had revenue of $19.29 million during the quarter, compared to the consensus estimate of $20.01 million. On average, sell-side analysts forecast that TELA Bio will post -0.76 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On TELA Bio

A number of hedge funds and other institutional investors have recently modified their holdings of TELA. Nantahala Capital Management LLC bought a new stake in TELA Bio in the 2nd quarter valued at $4,420,586. Stonepine Capital Management LLC bought a new position in shares of TELA Bio during the 2nd quarter valued at about $1,996,820. BlackRock Inc. bought a new position in shares of TELA Bio during the 2nd quarter valued at about $281,000. UP Strategic Wealth Investment Advisors LLC purchased a new position in shares of TELA Bio during the second quarter valued at about $91,000. Finally, Perkins Capital Management Inc. grew its position in shares of TELA Bio by 1.5% during the first quarter. Perkins Capital Management Inc. now owns 1,418,328 shares of the company’s stock valued at $879,000 after purchasing an additional 20,910 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.

TELA Bio Company Profile

TELA Bio, Inc is a medical technology company focused on developing and commercializing implantable products for soft-tissue reconstruction. Its products are designed to support the repair and reinforcement of damaged or weakened soft tissue, including tissue affected by hernias, abdominal wall defects and other reconstructive procedures.

The company’s principal product platform is OviTex Reinforced Tissue Matrix, a family of biologic implants that combines extracellular matrix tissue with a polymer reinforcement structure.