Brigid Makes Purchases 25,000 Shares of Elutia (NASDAQ:ELUT) Stock

by · The Cerbat Gem

Elutia Inc. (NASDAQ:ELUT – Get Free Report) Director Brigid Makes purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average cost of $0.52 per share, with a total value of $13,000.00. Following the purchase, the director directly owned 27,000 shares of the company’s stock, valued at approximately $14,040. The trade was a 1,250.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Elutia Trading Up 7.3%

Shares of ELUT stock opened at $0.54 on Thursday. The stock has a 50-day moving average of $0.78 and a 200-day moving average of $1.44. Elutia Inc. has a 1-year low of $0.50 and a 1-year high of $4.84. The stock has a market cap of $23.14 million, a price-to-earnings ratio of -0.59 and a beta of 0.63.

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

Institutional Investors Weigh In On Elutia

Several institutional investors have recently bought and sold shares of ELUT. AIGH Capital Management LLC lifted its stake in Elutia by 2.1% during the 2nd quarter. AIGH Capital Management LLC now owns 3,451,025 shares of the company’s stock valued at $6,833,000 after acquiring an additional 69,610 shares in the last quarter. Nantahala Capital Management LLC raised its stake in shares of Elutia by 11.2% during the 1st quarter. Nantahala Capital Management LLC now owns 3,184,947 shares of the company’s stock worth $8,058,000 after purchasing an additional 320,000 shares during the period. Alyeska Investment Group L.P. grew its position in Elutia by 310.8% during the first quarter. Alyeska Investment Group L.P. now owns 2,643,445 shares of the company’s stock valued at $6,688,000 after buying an additional 2,000,000 shares during the period. Deerfield Management Company L.P. bought a new stake in Elutia in the third quarter worth about $1,221,000. Finally, Knollwood Investment Advisory LLC raised its holdings in shares of Elutia by 10.7% in the 1st quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company’s stock worth $2,618,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Elutia to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Elutia in a report on Wednesday, October 8th. Finally, Lake Street Capital reduced their price target on shares of Elutia from $8.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.00.

Get Our Latest Analysis on ELUT

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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