Commonwealth Equity Services LLC Has $86,000 Holdings in TELA Bio, Inc. (NASDAQ:TELA)

Commonwealth Equity Services LLC grew its position in TELA Bio, Inc. (NASDAQ:TELA) by 91.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,441 shares of the company’s stock after purchasing an additional 13,555 shares during the period. Commonwealth Equity Services LLC’s holdings in TELA Bio were worth $86,000 at the end of the most recent quarter.

TELA Bio Trading Up 4.1 %

NASDAQ:TELA opened at $0.98 on Friday. The stock has a market cap of $38.56 million, a PE ratio of -0.58 and a beta of 0.98. TELA Bio, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $6.50. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81. The stock’s 50-day moving average is $2.03 and its two-hundred day moving average is $2.53.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TELA shares. Canaccord Genuity Group cut their price target on shares of TELA Bio from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Piper Sandler downgraded shares of TELA Bio from an “overweight” rating to a “neutral” rating and cut their target price for the company from $5.00 to $2.00 in a research note on Friday, March 21st.

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.