JMP Securities Lowers TELA Bio (NASDAQ:TELA) Price Target to $20.00

TELA Bio (NASDAQ:TELAGet Rating) had its price target reduced by JMP Securities from $22.00 to $20.00 in a report released on Thursday, Marketbeat Ratings reports. JMP Securities currently has a market outperform rating on the stock.

Separately, Piper Sandler reduced their price target on shares of TELA Bio from $20.00 to $15.00 and set an overweight rating for the company in a report on Thursday.

TELA Bio Trading Up 0.1 %

Shares of TELA opened at $8.11 on Thursday. TELA Bio has a 1-year low of $5.15 and a 1-year high of $13.70. The company has a 50-day moving average of $8.40 and a 200 day moving average of $8.04. The firm has a market capitalization of $118.07 million, a price-to-earnings ratio of -2.84 and a beta of 1.26. The company has a debt-to-equity ratio of 3.15, a current ratio of 3.83 and a quick ratio of 2.96.

Insider Activity

In other TELA Bio news, major shareholder Opaleye Management Inc. purchased 315,000 shares of TELA Bio stock in a transaction dated Tuesday, August 16th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $2,520,000.00. Following the acquisition, the insider now owns 1,880,000 shares in the company, valued at approximately $15,040,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Ew Healthcare Partners Fund 2, acquired 500,000 shares of TELA Bio stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $4,000,000.00. Following the purchase, the insider now directly owns 4,105,709 shares in the company, valued at approximately $32,845,672. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Opaleye Management Inc. acquired 315,000 shares of TELA Bio stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average price of $8.00 per share, with a total value of $2,520,000.00. Following the purchase, the insider now owns 1,880,000 shares in the company, valued at $15,040,000. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 880,224 shares of company stock worth $7,039,910. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of TELA Bio

Several large investors have recently bought and sold shares of the stock. Nantahala Capital Management LLC purchased a new stake in TELA Bio during the 3rd quarter worth approximately $2,973,000. Spouting Rock Asset Management LLC purchased a new stake in shares of TELA Bio in the 3rd quarter valued at $133,000. Russell Investments Group Ltd. purchased a new stake in shares of TELA Bio in the 3rd quarter valued at $772,000. Perkins Capital Management Inc. purchased a new stake in shares of TELA Bio in the 3rd quarter valued at $1,480,000. Finally, Calamos Advisors LLC purchased a new stake in shares of TELA Bio in the 3rd quarter valued at $436,000.

About TELA Bio

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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. It 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.

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