Short Interest in Elutia Inc. (NASDAQ:ELUT) Drops By 29.8%

by · The Cerbat Gem

Elutia Inc. (NASDAQ:ELUT – Get Free Report) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 67,700 shares, a decline of 29.8% from the February 13th total of 96,400 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 41,100 shares, the short-interest ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 target price on shares of Elutia in a research report on Friday, March 7th.

Check Out Our Latest Stock Report on Elutia

Insider Buying and Selling

In related news, Director Highcape Capital, L.P. bought 420,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average cost of $2.50 per share, for a total transaction of $1,050,000.00. Following the completion of the transaction, the director now owns 9,520,232 shares of the company’s stock, valued at approximately $23,800,580. The trade was a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 40.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elutia

A number of institutional investors and hedge funds have recently made changes to their positions in ELUT. Northern Trust Corp increased its stake in shares of Elutia by 30.0% during the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after purchasing an additional 4,148 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Elutia during the fourth quarter valued at approximately $84,000. Millennium Management LLC increased its stake in shares of Elutia by 16.4% during the fourth quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock valued at $169,000 after purchasing an additional 6,386 shares in the last quarter. 683 Capital Management LLC bought a new position in shares of Elutia during the fourth quarter valued at approximately $302,000. Finally, Geode Capital Management LLC increased its stake in shares of Elutia by 50.3% during the third quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after purchasing an additional 63,047 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Elutia Price Performance

ELUT stock traded down $0.07 during trading on Friday, reaching $3.18. The company had a trading volume of 34,987 shares, compared to its average volume of 38,575. Elutia has a 52 week low of $2.28 and a 52 week high of $5.24. The company has a market cap of $109.91 million, a P/E ratio of -1.22 and a beta of 0.86. The business has a 50 day moving average of $3.04 and a 200 day moving average of $3.61.

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.

Featured Articles