Elutia Inc. (NASDAQ:ELUT – Get Free Report) saw a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 67,700 shares, a decrease of 29.8% from the February 13th total of 96,400 shares. Based on an average trading volume of 41,100 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.3% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 price target on shares of Elutia in a research report on Friday, March 7th.
Check Out Our Latest Stock Analysis on ELUT
Insider Activity at Elutia
Hedge Funds Weigh In On Elutia
Hedge funds have recently made changes to their positions in the business. Northern Trust Corp boosted its stake in shares of Elutia by 30.0% in the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock worth $67,000 after acquiring an additional 4,148 shares during the period. Citadel Advisors LLC bought a new position in shares of Elutia in the fourth quarter worth about $84,000. Millennium Management LLC boosted its stake in shares of Elutia by 16.4% in the fourth quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock worth $169,000 after acquiring an additional 6,386 shares during the period. 683 Capital Management LLC bought a new position in Elutia during the fourth quarter valued at approximately $302,000. Finally, Geode Capital Management LLC boosted its stake in 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 buying an additional 63,047 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.
Elutia Price Performance
Shares of NASDAQ ELUT traded down $0.02 during mid-day trading on Tuesday, reaching $3.18. The company’s stock had a trading volume of 26,745 shares, compared to its average volume of 45,066. The firm has a market capitalization of $109.91 million, a PE ratio of -1.22 and a beta of 0.86. The stock has a fifty day moving average of $3.04 and a two-hundred day moving average of $3.60. Elutia has a 52 week low of $2.28 and a 52 week high of $5.24.
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.
Featured Articles
- Five stocks we like better than Elutia
- EV Stocks and How to Profit from Them
- Arqit Stock Soars as NVIDIA’s GTC Fuels Quantum Excitement
- Growth Stocks: What They Are, What They Are Not
- 3 Must-Own Stocks to Build Wealth This Decade
- How to Use the MarketBeat Stock Screener
- Advanced Micro Devices Eyes AI Market Growth—Is AMD a Buy?
Receive News & Ratings for Elutia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elutia and related companies with MarketBeat.com's FREE daily email newsletter.