Elutia (NASDAQ:ELUT) Raised to “Hold” at Wall Street Zen

Elutia (NASDAQ:ELUT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.00.

Elutia Price Performance

NASDAQ ELUT opened at $1.11 on Friday. The firm’s 50-day moving average is $1.03 and its two-hundred day moving average is $0.91. Elutia has a 12 month low of $0.50 and a 12 month high of $2.99. The stock has a market capitalization of $47.49 million, a P/E ratio of 1.35 and a beta of 0.65.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $3.30 million for the quarter, compared to analyst estimates of $3.30 million. As a group, analysts anticipate that Elutia will post -1.74 EPS for the current year.

Insiders Place Their Bets

In other Elutia news, Director Kevin Rakin purchased 70,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were bought at an average cost of $1.06 per share, for a total transaction of $74,200.00. Following the completion of the purchase, the director directly owned 196,120 shares of the company’s stock, valued at approximately $207,887.20. This trade represents a 55.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought 105,000 shares of company stock valued at $110,900. Insiders own 27.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new position in shares of Elutia in the fourth quarter valued at approximately $25,000. Virtu Financial LLC acquired a new stake in Elutia during the 3rd quarter worth approximately $26,000. XTX Topco Ltd acquired a new stake in Elutia during the 2nd quarter worth approximately $28,000. Rossmore Private Capital purchased a new position in Elutia in the 4th quarter valued at approximately $35,000. Finally, Jane Street Group LLC purchased a new position in Elutia in the 1st quarter valued at approximately $48,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

About Elutia

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.