TELA Bio (NASDAQ:TELA) Lowered to "Neutral" Rating by Piper Sandler

Piper Sandler cut shares of TELA Bio (NASDAQ:TELA - Free Report) from an overweight rating to a neutral rating in a report issued on Friday, Marketbeat Ratings reports. Piper Sandler currently has $2.00 price objective on the stock, down from their previous price objective of $5.00.

TELA Bio Stock Performance

Shares of TELA traded down $0.16 during mid-day trading on Friday, reaching $1.24. The company's stock had a trading volume of 1,360,259 shares, compared to its average volume of 212,887. The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22. TELA Bio has a 1-year low of $1.28 and a 1-year high of $6.50. The business has a 50-day simple moving average of $2.50 and a two-hundred day simple moving average of $2.68. The stock has a market cap of $48.84 million, a P/E ratio of -0.73 and a beta of 1.10.

TELA Bio (NASDAQ:TELA - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.01. TELA Bio had a negative return on equity of 556.18% and a negative net margin of 60.49%. The business had revenue of $17.65 million during the quarter, compared to the consensus estimate of $23.17 million. As a group, equities research analysts anticipate that TELA Bio will post -1.37 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC boosted its holdings in shares of TELA Bio by 30.5% during the fourth quarter. Jane Street Group LLC now owns 30,705 shares of the company's stock worth $93,000 after acquiring an additional 7,174 shares during the period. Commonwealth Equity Services LLC lifted its holdings in TELA Bio by 91.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company's stock worth $86,000 after purchasing an additional 13,555 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in TELA Bio by 95.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company's stock valued at $95,000 after purchasing an additional 15,283 shares during the period. Northern Trust Corp boosted its stake in TELA Bio by 50.6% in the 4th quarter. Northern Trust Corp now owns 47,181 shares of the company's stock valued at $142,000 after purchasing an additional 15,856 shares during the period. Finally, Prudential Financial Inc. acquired a new position in TELA Bio in the 4th quarter valued at $57,000. 94.35% of the stock is owned by institutional investors.

TELA Bio Company Profile

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.