Elutia Inc. (NASDAQ:ELUT) Short Interest Up 7.4% in October

by · The Markets Daily

Elutia Inc. (NASDAQ:ELUT – Get Free Report) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 108,200 shares, a growth of 7.4% from the September 30th total of 100,700 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily volume of 48,700 shares, the short-interest ratio is presently 2.2 days.

Elutia Trading Down 0.9 %

Shares of NASDAQ ELUT traded down $0.03 during trading on Friday, reaching $3.17. 10,035 shares of the company traded hands, compared to its average volume of 42,540. The stock has a market cap of $107.97 million, a P/E ratio of -1.10 and a beta of 0.73. Elutia has a 12-month low of $1.33 and a 12-month high of $5.24. The firm’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.62.

Elutia (NASDAQ:ELUT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.14) earnings per share for the quarter. The business had revenue of $6.29 million for the quarter. As a group, research analysts expect that Elutia will post -3.06 EPS for the current year.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Elutia in a research note on Friday, September 6th.

Check Out Our Latest Stock Report on ELUT

Hedge Funds Weigh In On Elutia

Several hedge funds and other institutional investors have recently modified their holdings of the business. Arcus Capital Partners LLC purchased a new stake in Elutia in the 2nd quarter valued at $50,000. Renaissance Technologies LLC lifted its holdings in Elutia by 50.5% in the second quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after acquiring an additional 18,000 shares during the last quarter. Perkins Capital Management Inc. purchased a new position in shares of Elutia in the first quarter valued at approximately $2,512,000. AIGH Capital Management LLC increased its position in shares of Elutia by 288.8% during the second quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock worth $8,419,000 after acquiring an additional 1,260,750 shares during the period. Finally, Nantahala Capital Management LLC raised its stake in shares of Elutia by 8.8% in the second quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock valued at $8,907,000 after acquiring an additional 145,697 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Elutia Company Profile

(Get Free Report)

Elutia Inc, a commercial-stage company, develops and commercializes drug-eluting biologics products for neurostimulation, wound care, and breast reconstruction in the United States. The company operates in three segments: Device Protection; Women's Health; and Cardiovascular. It offers CanGaroo Envelope, which is used to accommodate cardiac implantable electronic devices, such as pacemakers and internal defibrillators.

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