TELA Bio (NASDAQ:TELA) Rating Lowered to “Neutral” at Piper Sandler

TELA Bio (NASDAQ:TELA) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat reports. They presently have a $2.00 target price on the stock, down from their previous target price of $5.00. Piper Sandler’s price objective indicates a potential upside of 36.05% from the stock’s current price.

TELA Bio Stock Down 37.2 %

Shares of NASDAQ TELA opened at $1.47 on Friday. The stock has a market capitalization of $57.90 million, a P/E ratio of -0.87 and a beta of 1.10. The stock’s fifty day moving average is $2.56 and its 200 day moving average is $2.70. TELA Bio has a 52 week low of $1.28 and a 52 week high of $6.50. The company has a debt-to-equity ratio of 14.22, a quick ratio of 1.81 and a current ratio of 2.62.

TELA Bio (NASDAQ:TELA) last released its earnings results on Thursday, March 20th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.01. TELA Bio had a negative net margin of 60.49% and a negative return on equity of 556.18%. The firm had revenue of $17.65 million for the quarter, compared to analyst estimates of $23.17 million. Sell-side analysts forecast that TELA Bio will post -1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELA Bio

A number of large investors have recently modified their holdings of the business. Prudential Financial Inc. acquired a new position in shares of TELA Bio during the 4th quarter worth $57,000. Commonwealth Equity Services LLC grew its position in TELA Bio by 91.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,441 shares of the company’s stock valued at $86,000 after acquiring an additional 13,555 shares during the last quarter. Walleye Capital LLC acquired a new position in TELA Bio during the fourth quarter worth about $91,000. Jane Street Group LLC lifted its holdings in shares of TELA Bio by 30.5% in 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 last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

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.