TELA Bio (NASDAQ:TELA) Shares Down 1.4% – What’s Next?

Shares of TELA Bio, Inc. (NASDAQ:TELA) were down 1.4% during trading on Thursday . The stock traded as low as $2.73 and last traded at $2.76. Approximately 78,765 shares were traded during trading, a decline of 52% from the average daily volume of 163,540 shares. The stock had previously closed at $2.80.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their target price on shares of TELA Bio from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, November 8th.

TELA Bio Stock Performance

The firm has a market capitalization of $105.17 million, a PE ratio of -1.58 and a beta of 1.00. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62. The business’s fifty day simple moving average is $2.81 and its 200-day simple moving average is $2.95.

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

Institutional Trading of TELA Bio

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP lifted its holdings in shares of TELA Bio by 398.8% in the 3rd quarter. GSA Capital Partners LLP now owns 112,205 shares of the company’s stock valued at $284,000 after acquiring an additional 89,712 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of TELA Bio in the 2nd quarter valued at approximately $302,000. Landscape Capital Management L.L.C. purchased a new position in shares of TELA Bio in the 3rd quarter worth approximately $362,000. Squarepoint Ops LLC bought a new position in shares of TELA Bio during the 2nd quarter valued at approximately $132,000. Finally, Renaissance Technologies LLC purchased a new stake in TELA Bio during the 2nd quarter valued at $368,000. 94.35% of the stock is owned by hedge funds and other 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.