Piper Sandler Has Lowered Expectations for TELA Bio (NASDAQ:TELA) Stock Price

TELA Bio (NASDAQ:TELA - Get Free Report) had its price target reduced by investment analysts at Piper Sandler from $8.00 to $5.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price would suggest a potential upside of 62.34% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Lake Street Capital dropped their price objective on shares of TELA Bio from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Canaccord Genuity Group reissued a "buy" rating and set a $12.00 price objective on shares of TELA Bio in a report on Friday, October 4th. Finally, JMP Securities lowered their target price on shares of TELA Bio from $15.00 to $12.00 and set a "market outperform" rating for the company in a report on Tuesday, August 13th.

TELA Bio Trading Up 3.0 %

Shares of NASDAQ TELA traded up $0.09 during midday trading on Friday, reaching $3.08. 538,546 shares of the stock were exchanged, compared to its average volume of 195,023. TELA Bio has a twelve month low of $2.30 and a twelve month high of $7.84. The stock has a market capitalization of $76.11 million, a P/E ratio of -1.74 and a beta of 0.97. The company has a 50 day simple moving average of $2.65 and a 200 day simple moving average of $4.01. The company has a debt-to-equity ratio of 14.22, a quick ratio of 2.52 and a current ratio of 3.41.

TELA Bio (NASDAQ:TELA - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.51) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.06). The firm had revenue of $16.09 million for the quarter, compared to analysts' expectations of $19.00 million. TELA Bio had a negative net margin of 65.04% and a negative return on equity of 252.57%. During the same quarter last year, the business earned ($0.46) earnings per share. As a group, equities analysts expect that TELA Bio will post -1.39 earnings per share for the current year.

Insider Activity

In other TELA Bio news, CEO Antony Koblish purchased 88,888 shares of TELA Bio stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $2.25 per share, for a total transaction of $199,998.00. Following the transaction, the chief executive officer now directly owns 458,897 shares in the company, valued at $1,032,518.25. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CTO Paul Talmo bought 22,222 shares of the stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $49,999.50. Following the purchase, the chief technology officer now owns 91,082 shares of the company's stock, valued at $204,934.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Antony Koblish purchased 88,888 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were bought at an average price of $2.25 per share, with a total value of $199,998.00. Following the purchase, the chief executive officer now directly owns 458,897 shares of the company's stock, valued at approximately $1,032,518.25. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 182,220 shares of company stock valued at $409,995. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TELA Bio

Several institutional investors have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY increased its stake in shares of TELA Bio by 143.8% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,256,200 shares of the company's stock worth $5,904,000 after acquiring an additional 740,935 shares during the period. AIGH Capital Management LLC raised its stake in shares of TELA Bio by 17.1% during the 2nd quarter. AIGH Capital Management LLC now owns 1,656,655 shares of the company's stock worth $7,786,000 after buying an additional 241,400 shares in the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of TELA Bio by 122.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,445,667 shares of the company's stock valued at $11,495,000 after buying an additional 1,347,801 shares during the period. Vanguard Group Inc. boosted its stake in shares of TELA Bio by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,006,052 shares of the company's stock valued at $5,704,000 after buying an additional 7,199 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in TELA Bio during the second quarter worth $302,000. 94.35% of the stock is owned by institutional investors and hedge funds.

About TELA Bio

TELA Bio, Inc, a commercial-stage medical technology company, focuses on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's anatomy. The company provides a portfolio of OviTex Reinforced Tissue Matrix (OviTex) products for hernia repair and abdominal wall reconstruction; and OviTex PRS Reinforced Tissue Matrix products to address the unmet needs in plastic and reconstructive surgery, as well as OviTex for Laparoscopic and Robotic Procedures, a sterile reinforced tissue matrix derived from ovine rumen with polypropylene fiber intended to be used in laparoscopic and robotic-assisted hernia surgical repairs.