Insider Buying: Elutia (NASDAQ:ELUT) Director Purchases $74,200.00 in Stock

Elutia Inc. (NASDAQ:ELUT) Director Kevin Rakin purchased 70,000 shares of the stock in a transaction dated Friday, January 30th. The shares were purchased at an average price of $1.06 per share, with a total value of $74,200.00. Following the transaction, the director directly owned 196,120 shares of the company’s stock, valued at approximately $207,887.20. The trade was a 55.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kevin Rakin also recently made the following trade(s):

• On Wednesday, December 17th, Kevin Rakin acquired 50,000 shares of Elutia stock. The stock was purchased at an average price of $0.52 per share, for a total transaction of $26,000.00.

Elutia Stock Up 1.2%

Elutia stock opened at $0.99 on Thursday. Elutia Inc. has a 52-week low of $0.50 and a 52-week high of $3.46. The firm has a market capitalization of $42.37 million, a price-to-earnings ratio of -1.08 and a beta of 0.67. The firm has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $1.15.

Elutia (NASDAQ:ELUT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The business had revenue of $3.32 million for the quarter, compared to the consensus estimate of $6.65 million. Research analysts expect that Elutia Inc. will post -1.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Elutia to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elutia in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.00.

Institutional Trading of Elutia

Several institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Elutia during the fourth quarter worth about $25,000. Citadel Advisors LLC bought a new position in shares of Elutia during the 3rd quarter valued at about $50,000. Virtu Financial LLC acquired a new position in shares of Elutia in the 3rd quarter worth approximately $26,000. Deerfield Management Company L.P. bought a new stake in shares of Elutia in the 3rd quarter worth approximately $1,221,000. Finally, XTX Topco Ltd acquired a new stake in Elutia during the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Elutia Company Profile

Elutia, Inc is a biopharmaceutical company focused on the development of novel nitric oxide therapies based on its proprietary polymeric nitric oxide platform. This technology is designed to enable sustained, controlled release of nitric oxide to targeted tissues, potentially overcoming the delivery challenges associated with gaseous nitric oxide and small‐molecule donors.

The company’s lead program is in preclinical development for pulmonary arterial hypertension, with additional research efforts aimed at other cardiovascular and respiratory conditions.