It makes sense and dollars to buy TELA Bio Inc (TELA) stock

TELA Bio Inc (NASDAQ: TELA) stock fell -1.26% on Friday to $4.69 against a previous-day closing price of $4.75. With 0.85 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.12 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $4.7800 whereas the lowest price it dropped to was $4.6300. The 52-week range on TELA shows that it touched its highest point at $13.18 and its lowest point at $4.23 during that stretch. It currently has a 1-year price target of $14.40. Beta for the stock currently stands at 0.92.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TELA was up-trending over the past week, with a rise of 1.52%, but this was down by -19.55% over a month. Three-month performance dropped to -47.71% while six-month performance fell -51.30%. The stock lost -41.37% in the past year, while it has lost -59.22% so far this year. A look at the trailing 12-month EPS for TELA yields -2.06 with Next year EPS estimates of -1.52. For the next quarter, that number is -0.43. This implies an EPS growth rate of 29.41% for this year and 20.83% for next year.

Float and Shares Shorts:

At present, 19.17 million TELA shares are outstanding with a float of 17.02 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.74 million, which was 3.00% higher than short shares on Sep 28, 2023. In addition to Mr. Antony Koblish as the firm’s Co-founder, President, CEO & Director, Mr. Roberto E. Cuca J.D. serves as its CFO & COO.

Institutional Ownership:

Through their ownership of 67.05% of TELA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.85% of TELA, in contrast to 30.67% held by mutual funds. Shares owned by individuals account for 14.60%. As the largest shareholder in TELA with 10.13% of the stake, First Light Asset Management LLC holds 2,480,264 shares worth 2,480,264. A second-largest stockholder of TELA, AIGH Capital Management LLC, holds 1,252,945 shares, controlling over 5.12% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TELA, holding 947,640 shares or 3.87% stake. With a 2.56% stake in TELA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 626,542 shares are owned by the mutual fund manager. The Federated Hermes Kaufmann Fund, which owns about 2.04% of TELA stock, is the second-largest Mutual Fund holder. It holds 500,000 shares valued at 2.92 million. iShares Russell 2000 ETF holds 1.46% of the stake in TELA, owning 358,274 shares worth 2.09 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TELA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TELA analysts setting a high price target of $18.00 and a low target of $10.00, the average target price over the next 12 months is $14.40. Based on these targets, TELA could surge 283.8% to reach the target high and rise by 113.22% to reach the target low. Reaching the average price target will result in a growth of 207.04% from current levels.

Summary of Insider Activity:

Insiders traded TELA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 163,520 while 40,772 shares were sold.