TELA Bio (NASDAQ:TELA) Stock Price Down 0.3% - Should You Sell?

TELA Bio, Inc. (NASDAQ:TELA - Get Free Report)'s share price fell 0.3% on Monday . The company traded as low as $2.84 and last traded at $2.90. 83,701 shares were traded during trading, a decline of 57% from the average session volume of 194,455 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TELA shares. Piper Sandler decreased their target price on TELA Bio from $8.00 to $5.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Canaccord Genuity Group reiterated a "buy" rating and issued a $12.00 price objective on shares of TELA Bio in a research note on Friday, October 4th.

TELA Bio Price Performance

The company has a current ratio of 2.62, a quick ratio of 1.81 and a debt-to-equity ratio of 14.22. The stock's fifty day moving average price is $2.91 and its two-hundred day moving average price is $3.33. The firm has a market capitalization of $118.95 million, a price-to-earnings ratio of -1.79 and a beta of 0.99.

TELA Bio (NASDAQ:TELA - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.05). The business had revenue of $18.96 million during the quarter, compared to analyst estimates of $19.10 million. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. During the same quarter in the prior year, the business earned ($0.45) earnings per share. Equities research analysts expect that TELA Bio, Inc. will post -1.37 EPS for the current year.

Insider Activity at TELA Bio

In related news, CEO Antony Koblish bought 88,888 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $2.25 per share, with a total value of $199,998.00. Following the completion of the transaction, the chief executive officer now owns 458,897 shares of the company's stock, valued at approximately $1,032,518.25. The trade was a 24.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Paul Talmo purchased 22,222 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $2.25 per share, with a total value of $49,999.50. Following the transaction, the chief technology officer now directly owns 91,082 shares of the company's stock, valued at $204,934.50. The trade was a 32.27 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 182,220 shares of company stock valued at $409,995 over the last three months. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TELA Bio

A number of hedge funds have recently made changes to their positions in TELA. Point72 DIFC Ltd purchased a new position in shares of TELA Bio in the 2nd quarter worth $25,000. Embree Financial Group purchased a new stake in shares of TELA Bio during the 3rd quarter worth about $25,000. Ground Swell Capital LLC acquired a new stake in TELA Bio during the 2nd quarter worth approximately $53,000. Perkins Capital Management Inc. raised its holdings in TELA Bio by 10.2% in the third quarter. Perkins Capital Management Inc. now owns 225,200 shares of the company's stock valued at $570,000 after buying an additional 20,850 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in TELA Bio during the second quarter valued at approximately $115,000. Institutional investors and hedge funds own 94.35% of the company's stock.

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.