In the last trading session, 1.11 million shares of the TELA Bio Inc (NASDAQ:TELA) were traded, and its beta was 0.99. Most recently the company’s share price was $2.86, and it changed around $0.28 or 10.85% from the last close, which brings the market valuation of the company to $70.67M. TELA currently trades at a discount to its 52-week high of $7.84, offering almost -174.13% off that amount. The share price’s 52-week low was $2.30, which indicates that the current value has risen by an impressive 19.58% since then. We note from TELA Bio Inc’s average daily trading volume that its 10-day average is 0.46 million shares, with the 3-month average coming to 207.06K.
TELA Bio Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended TELA as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. TELA Bio Inc is expected to report earnings per share of -0.41 for the current quarter.
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TELA Bio Inc (NASDAQ:TELA) trade information
Instantly TELA has showed a green trend with a performance of 10.85% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 3.05 on recent trading dayincreased the stock’s daily price by 6.23%. The company’s shares are currently down -56.80% year-to-date, but still up 13.04% over the last five days. On the other hand, TELA Bio Inc (NASDAQ:TELA) is 9.16% up in the 30-day period. We can see from the shorts that 1.54 million shares have been sold at a short interest cover period of 13.5 day(s).
The consensus price target as assigned by Wall Street analysts is $11, which translates to bulls needing to increase their stock price by 74.0% from its current value. Analyst projections state that TELA is forecast to be at a low of $8 and a high of $20.
TELA Bio Inc (TELA) estimates and forecasts
TELA Bio Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -35.73 percent over the past six months and at a 31.37% annual growth rate that is well above the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 8.90% in revenue this quarter, and will report an increase of 47.20% in the next quarter. The year-over-year growth rate is expected to be 27.30%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 18.75M in revenue for the current quarter. 5 analysts expect TELA Bio Inc to make 22.95M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 15.05M and 17M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 24.60%. Forecasts for the next quarter put sales growth at 35.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.17%.
TELA Dividends
TELA Bio Inc’s next quarterly earnings report is expected to be released in November.
TELA Bio Inc (NASDAQ:TELA)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.82% of TELA Bio Inc shares, and 57.70% of them are in the hands of institutional investors. The stock currently has a share float of 60.63%. TELA Bio Inc stock is held by 90.0 institutions, with ESSEX WOODLANDS MANAGEMENT, INC. being the largest institutional investor. By 2024-06-30, it held 16.7242% of the shares, which is about 4.11 million shares worth $19.32 million.
ORBIMED ADVISORS LLC, with 9.9984% or 2.46 million shares worth $11.55 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
