TELA Stock Summary and Trading Ideas (Tela Bio | NASDAQ:TELA)

TELA Bio Inc is a United States-based medical technology company. The company is involved in developing and marketing of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. Its reinforced tissue matrices called OviTex improve the clinical outcomes and reduce costs of care in hernia repair, abdominal wall reconstruction and plastic and reconstructive surgery. The company's second portfolio of products, the OviTex PRS Reinforced Tissue Matrix, addresses unmet needs in plastic and reconstructive surgery.

Tela Bio trades on the NASDAQ stock market under the symbol TELA.

As of May 7, 2024, TELA stock price climbed to $4.92 with 709,571 million shares trading.

TELA has a beta of 0.75, meaning it tends to be less sensitive to market movements. TELA has a correlation of 0.03 to the broad based SPY ETF.

TELA has a market cap of $121.28 million. This is considered a Micro Cap stock.

Last quarter Tela Bio reported $17 million in Revenue and -$.53 earnings per share. This beat revenue expectation by $608,000 and missed earnings estimates by -$.10.

In the last 3 years, TELA stock traded as high as $16.53 and as low as $4.23.

The top ETF exchange traded funds that TELA belongs to (by Net Assets): VTI, IWM, VXF, IWO, VTWO.

TELA has underperformed the market in the last year with a return of -49.5%, while the SPY ETF gained +27.0%. In the last 3 month period, TELA fell short of the market, returning -28.5%, while SPY returned +5.0%. However, in the most recent 2 weeks TELA has outperformed the stock market by returning +7.7%, while SPY returned +3.5%.

TELA support price is $4.39 and resistance is $4.80 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TELA stock will trade within this expected range on the day.