Elutia (NASDAQ:ELUT) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Elutia (NASDAQ:ELUT) announced its earnings results on Thursday. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15, Zacks reports. The firm had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $6.65 million.

Elutia Stock Down 5.0%

Elutia stock traded down $0.05 during trading on Friday, reaching $0.90. The stock had a trading volume of 241,275 shares, compared to its average volume of 97,348. Elutia has a 52-week low of $0.85 and a 52-week high of $5.12. The stock has a market cap of $37.95 million, a PE ratio of -0.84 and a beta of 0.78. The business has a 50 day moving average price of $1.11 and a 200 day moving average price of $1.69.

Institutional Investors Weigh In On Elutia

An institutional investor recently bought a new position in Elutia stock. XTX Topco Ltd bought a new position in shares of Elutia Inc. (NASDAQ:ELUT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,012 shares of the company’s stock, valued at approximately $28,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ELUT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a research report on Wednesday, October 8th. Lake Street Capital cut their target price on shares of Elutia from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Finally, Wall Street Zen upgraded shares of Elutia to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.00.

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.