Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) 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.

Insider Activity at Elutia

In related news, Director Highcape Capital, L.P. purchased 420,000 shares of Elutia stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of $2.50 per share, for a total transaction of $1,050,000.00. Following the completion of the transaction, the director now directly owns 9,520,232 shares in the company, valued at $23,800,580. This represents a 4.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 40.80% of the stock is owned by company insiders.

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.