TELA Bio (NASDAQ:TELA) Stock Price Down 3.1% – Should You Sell?

TELA Bio, Inc. (NASDAQ:TELA)’s stock price fell 3.1% during trading on Thursday . The company traded as low as $2.48 and last traded at $2.52. 87,448 shares were traded during mid-day trading, a decline of 42% from the average session volume of 151,778 shares. The stock had previously closed at $2.60.

Analysts Set New Price Targets

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

TELA Bio Price Performance

The company has a market capitalization of $99.45 million, a P/E ratio of -1.49 and a beta of 1.00. The company has a fifty day moving average price of $2.75 and a 200 day moving average price of $2.79. The company has a debt-to-equity ratio of 14.22, a current ratio of 2.62 and a quick ratio of 1.81.

Institutional Investors Weigh In On TELA Bio

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its holdings in shares of TELA Bio by 398.8% in the third quarter. GSA Capital Partners LLP now owns 112,205 shares of the company’s stock valued at $284,000 after purchasing an additional 89,712 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of TELA Bio in the third quarter valued at about $362,000. Perkins Capital Management Inc. lifted its stake in shares of TELA Bio by 10.2% in the third quarter. Perkins Capital Management Inc. now owns 225,200 shares of the company’s stock valued at $570,000 after buying an additional 20,850 shares during the period. Stonepine Capital Management LLC lifted its stake in shares of TELA Bio by 77.4% in the third quarter. Stonepine Capital Management LLC now owns 1,110,000 shares of the company’s stock valued at $2,808,000 after buying an additional 484,355 shares during the period. Finally, UP Strategic Wealth Investment Advisors LLC lifted its stake in shares of TELA Bio by 808.1% in the fourth quarter. UP Strategic Wealth Investment Advisors LLC now owns 99,888 shares of the company’s stock valued at $302,000 after buying an additional 88,888 shares during the period. 94.35% of the stock is currently owned by institutional investors and hedge funds.

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.