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

Elutia Inc. (NASDAQ:ELUT) Director Brigid Makes acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was purchased at an average price of $0.52 per share, with a total value of $13,000.00. Following the completion of the transaction, the director directly owned 27,000 shares of the company’s stock, valued at $14,040. This trade represents a 1,250.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Elutia Price Performance

Shares of Elutia stock opened at $0.54 on Thursday. The company has a 50 day simple moving average of $0.78 and a two-hundred day simple moving average of $1.44. Elutia Inc. has a 1 year low of $0.50 and a 1 year high of $4.84. The firm has a market cap of $23.14 million, a PE ratio of -0.59 and a beta of 0.63.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $3.32 million during the quarter, compared to analysts’ expectations of $6.65 million. As a group, research analysts anticipate that Elutia Inc. will post -1.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC lifted its holdings in Elutia by 2.1% in the 2nd quarter. AIGH Capital Management LLC now owns 3,451,025 shares of the company’s stock worth $6,833,000 after buying an additional 69,610 shares during the period. Nantahala Capital Management LLC boosted 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 valued at $8,058,000 after purchasing an additional 320,000 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of 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. purchased a new stake in Elutia in the third quarter worth about $1,221,000. Finally, Knollwood Investment Advisory LLC boosted its position in 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. Institutional investors own 74.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Wall Street Zen raised Elutia to a “sell” rating in a research note on Saturday, November 8th. Finally, Lake Street Capital lowered their target price 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

About Elutia

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.