TELA Bio (NASDAQ:TELA) Shares Down 2.9% – Here’s What Happened

TELA Bio, Inc. (NASDAQ:TELA) was down 2.9% during mid-day trading on Wednesday . The company traded as low as $1.66 and last traded at $1.69. Approximately 64,232 shares changed hands during trading, a decline of 29% from the average daily volume of 91,104 shares. The stock had previously closed at $1.74.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of TELA Bio from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.50.

TELA Bio Trading Down 2.9%

The company’s 50 day simple moving average is $1.84 and its 200 day simple moving average is $1.74. The firm has a market cap of $66.96 million, a price-to-earnings ratio of -1.51 and a beta of 0.93. The company has a debt-to-equity ratio of 4.14, a current ratio of 3.19 and a quick ratio of 2.59.

TELA Bio (NASDAQ:TELA) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The business had revenue of $20.20 million during the quarter, compared to analyst estimates of $20.67 million. TELA Bio had a negative return on equity of 329.48% and a negative net margin of 54.12%. TELA Bio has set its FY 2025 guidance at EPS. As a group, research analysts expect that TELA Bio, Inc. will post -1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TELA Bio

Institutional investors have recently modified their holdings of the business. Solstein Capital LLC acquired a new position in shares of TELA Bio in the second quarter worth $32,000. WealthTrust Axiom LLC purchased a new stake in shares of TELA Bio during the 2nd quarter worth $40,000. Walleye Capital LLC purchased a new stake in shares of TELA Bio during the 4th quarter worth $91,000. Jane Street Group LLC lifted its position in shares of TELA Bio by 30.5% during the 4th quarter. Jane Street Group LLC now owns 30,705 shares of the company’s stock worth $93,000 after purchasing an additional 7,174 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of TELA Bio by 95.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 31,313 shares of the company’s stock worth $95,000 after purchasing an additional 15,283 shares during 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.