Short Interest in Elutia Inc. (NASDAQ:ELUT) Expands By 7.4%

Elutia Inc. (NASDAQ:ELUT) was the recipient of a large growth in short interest in 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 short sold. Based on an average trading volume of 48,700 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Elutia

Several hedge funds and other institutional investors have recently made changes to their positions in ELUT. Arcus Capital Partners LLC purchased a new position in Elutia in the second quarter valued at about $50,000. Renaissance Technologies LLC increased its stake in Elutia by 50.5% in the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after purchasing an additional 18,000 shares in the last quarter. Perkins Capital Management Inc. acquired a new position in Elutia during the first quarter worth $2,512,000. AIGH Capital Management LLC boosted its position in 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 purchasing an additional 1,260,750 shares in the last quarter. Finally, Nantahala Capital Management LLC grew its holdings in 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 purchasing an additional 145,697 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Elutia Stock Down 0.9 %

ELUT stock traded down $0.03 during trading on Friday, hitting $3.17. The company had a trading volume of 10,035 shares, compared to its average volume of 42,540. Elutia has a 1-year low of $1.33 and a 1-year high of $5.24. The firm has a 50-day moving average price of $3.81 and a 200-day moving average price of $3.62. The firm has a market cap of $107.97 million, a PE ratio of -1.10 and a beta of 0.73.

Elutia (NASDAQ:ELUT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($1.14) EPS for the quarter. The firm had revenue of $6.29 million during the quarter. Sell-side analysts anticipate that Elutia will post -3.06 earnings per share for the current year.

Elutia Company Profile

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.