TELA Bio (NASDAQ:TELA) Stock Price Down 0.3% – Here’s Why

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

Wall Street Analyst Weigh In

TELA has been the subject of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $12.00 price objective on shares of TELA Bio in a research report on Friday, October 4th. Piper Sandler decreased their price target on 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 Down 0.3 %

The company has a market cap of $114.23 million, a price-to-earnings ratio of -1.72 and a beta of 0.99. The stock’s 50-day moving average is $2.89 and its 200-day moving average is $3.36. 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 (NASDAQ:TELA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.42) 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 firm had revenue of $18.96 million during the quarter, compared to analyst estimates of $19.10 million. During the same period last year, the business posted ($0.45) EPS. On average, analysts anticipate that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.

Insider Activity

In other TELA Bio news, CEO Antony Koblish bought 88,888 shares of the stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $2.25 per share, for a total transaction 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. This trade represents a 24.02 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Paul Talmo purchased 22,222 shares of TELA Bio stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $2.25 per share, with a total value of $49,999.50. Following the transaction, the chief technology officer now owns 91,082 shares of the company’s stock, valued at $204,934.50. This trade represents a 32.27 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 182,220 shares of company stock worth $409,995 over the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TELA. Point72 DIFC Ltd bought a new stake in TELA Bio in the 2nd quarter valued at about $25,000. Embree Financial Group bought a new stake in TELA Bio during the third quarter worth about $25,000. Ground Swell Capital LLC purchased a new stake in TELA Bio in the second quarter worth approximately $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in TELA Bio in the 2nd quarter worth $115,000. Finally, Los Angeles Capital Management LLC purchased a new stake in TELA Bio during the 2nd quarter valued at about $131,000. 94.35% of the stock is owned by institutional investors.

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.