TELA Bio, Inc. (NASDAQ:TELA) Given Average Recommendation of “Hold” by Brokerages

TELA Bio, Inc. (NASDAQ:TELA) has been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $3.25.

Several research firms have recently commented on TELA. Weiss Ratings reissued a “sell (e+)” rating on shares of TELA Bio in a research note on Thursday, January 22nd. Loop Capital set a $3.00 price target on TELA Bio in a research note on Monday, December 1st. Canaccord Genuity Group decreased their price target on TELA Bio from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Finally, Lake Street Capital reiterated a “buy” rating on shares of TELA Bio in a research report on Monday, December 1st.

TELA Bio Stock Performance

Shares of TELA Bio stock opened at $0.74 on Wednesday. The company has a debt-to-equity ratio of 26.65, a current ratio of 3.30 and a quick ratio of 2.62. The firm has a market cap of $29.84 million, a P/E ratio of -0.83 and a beta of 0.88. The firm has a 50 day simple moving average of $0.90 and a 200 day simple moving average of $1.19. TELA Bio has a fifty-two week low of $0.67 and a fifty-two week high of $2.48.

Hedge Funds Weigh In On TELA Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Essex Woodlands Management Inc. raised its position in shares of TELA Bio by 87.7% during the 4th 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 during the last quarter. Perkins Capital Management Inc. increased its holdings in TELA Bio by 67.6% in the fourth quarter. Perkins Capital Management Inc. now owns 1,397,418 shares of the company’s stock valued at $1,649,000 after purchasing an additional 563,490 shares during the last quarter. HBK Sorce Advisory LLC acquired a new position in TELA Bio in the third quarter valued at about $154,000. Embree Financial Group lifted its stake in TELA Bio by 695.1% in the fourth quarter. Embree Financial Group now owns 111,318 shares of the company’s stock valued at $131,000 after buying an additional 97,318 shares during the period. Finally, WealthTrust Axiom LLC boosted its holdings in TELA Bio by 39.1% during the fourth quarter. WealthTrust Axiom LLC now owns 322,588 shares of the company’s stock worth $381,000 after buying an additional 90,650 shares during the last quarter. 94.35% of the stock is owned by institutional investors.

About TELA Bio

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.