These Analysts Cut Their Forecasts On TELA Bio After Q3 Earnings

Core Insights - TELA Bio Inc reported mixed results for Q3, with losses of 19 cents per share, slightly better than the analyst consensus of 20 cents per share, but sales of $20.700 million fell short of the expected $21.788 million [1][2] Financial Performance - Quarterly losses were reported at 19 cents per share, beating the consensus estimate of 20 cents per share [1] - Quarterly sales amounted to $20.700 million, missing the analyst consensus estimate of $21.788 million [1] Management Commentary - CEO Antony Koblish highlighted continued growth and progress due to a strengthened leadership team and strategic changes in the commercial organization [2] Stock Offering - TELA Bio announced a pricing of $13.0 million for an underwritten registered direct offering of common stock and pre-funded warrants [2] Market Reaction - Following the earnings announcement, TELA Bio shares fell by 13.7%, trading at $0.96 [2] Analyst Ratings and Price Targets - Citizens analyst David Turkaly maintained a Market Outperform rating but lowered the price target from $7 to $5 [5] - Piper Sandler analyst Matt O'Brien reiterated a Neutral rating and reduced the price target from $2 to $1.25 [5]