Elutia (NASDAQ:ELUT) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Elutia (NASDAQ:ELUT – Free Report) to a sell rating in a report published on Saturday morning.

ELUT has been the subject of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Lake Street Capital reduced their price objective on Elutia from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.00.

View Our Latest Stock Analysis on ELUT

Elutia Stock Down 3.7%

ELUT opened at $0.86 on Friday. The company’s 50-day moving average price is $1.08 and its 200 day moving average price is $1.67. Elutia has a fifty-two week low of $0.85 and a fifty-two week high of $5.12. The firm has a market cap of $36.54 million, a price-to-earnings ratio of -0.81 and a beta of 0.78.

Elutia (NASDAQ:ELUT – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.15. The company had revenue of $3.32 million for the quarter, compared to the consensus estimate of $6.65 million. Research analysts anticipate that Elutia will post -1.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ELUT. OMERS ADMINISTRATION Corp purchased a new position in Elutia during the 1st quarter valued at about $28,000. XTX Topco Ltd purchased a new stake in Elutia in the 2nd quarter worth approximately $28,000. Jane Street Group LLC acquired a new stake in shares of Elutia during the 1st quarter valued at $48,000. Arcus Capital Partners LLC grew its holdings in shares of Elutia by 50.3% during the 2nd quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock valued at $59,000 after acquiring an additional 10,050 shares in the last quarter. Finally, Knollwood Investment Advisory LLC grew its holdings in shares of Elutia by 10.7% during the 1st quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company’s stock valued at $2,618,000 after acquiring an additional 100,000 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

About Elutia

(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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