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TELA Bio, Inc. (TELA) Stock Jumps 6.6%: Will It Continue to Soar?

Zacks Equity Research
·2-min read

TELA Bio, Inc. TELA shares soared 6.6% in the last trading session to close at $6.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.1% loss over the past four weeks.

Shares surged as investors are most likely optimistic about the prospects of this commercial-stage medical technology company. Increased demand for OviTex and OviTex PRS Reinforced Tissue Matrix products fuelled growth in the first quarter and the momentum should continue.

This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of -5.3%. Revenues are expected to be $10.25 million, up 35.6% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For TELA Bio, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TELA going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

TELA Bio, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Beam Therapeutics Inc. (BEAM), another stock in the same industry, closed the last trading session 2.8% higher at $39.13. BEAM has returned 21% in the past month.

For Beam Therapeutics Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.08. This represents a change of -13.7% from what the company reported a year ago. Beam Therapeutics Inc. currently has a Zacks Rank of #3 (Hold).


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Zacks Investment Research