Elutia Inc. (NASDAQ:ELUT) Shares Shorted: Short Interest Up 63.8% in October

Elutia Inc. (NASDAQ:ELUT) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 15,326 shares, a growth of 63.8% from the September 30th total of 9,359 shares. Based on an average daily trading volume, of 788,498 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Elutia

An institutional investor recently raised its position in Elutia stock. AIGH Capital Management LLC lifted its stake in shares of Elutia Inc. (NASDAQ:ELUT) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,595,250 shares of the company’s stock after buying an additional 527,065 shares during the quarter. Elutia accounts for approximately 0.5% of AIGH Capital Management LLC’s holdings, making the stock its 27th largest holding. AIGH Capital Management LLC owned about 8.40% of Elutia worth $3,775,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Elutia Trading Up 0.5%

Shares of NASDAQ ELUT traded up $0.00 during midday trading on Monday, reaching $0.84. 18,199 shares of the stock were exchanged, compared to its average volume of 165,078. The stock has a 50 day moving average price of $0.83 and a 200-day moving average price of $0.97. Elutia has a 52-week low of $0.50 and a 52-week high of $1.39. The company has a market capitalization of $37.25 million, a P/E ratio of 0.89 and a beta of 0.84.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Elutia had a net margin of 426.93% and a negative return on equity of 407.37%. The company had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $2.90 million.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Elutia from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Elutia has an average rating of “Sell”.

About Elutia

Elutia Inc is a medical technology company focused on developing and commercializing biologic products designed to support tissue healing and improve the performance of implantable medical devices. The company combines human tissue-based materials with drug-delivery and regenerative medicine technologies.

Its product portfolio includes biologic envelopes used to protect and support cardiac implantable electronic devices, including pacemakers and defibrillators. Elutia also develops tissue matrices and other biologic products for orthopedic, wound care and related surgical applications, with products intended to support soft-tissue repair, reconstruction and healing.

The company was formerly known as Aziyo Biologics and adopted the Elutia name as part of its broader focus on bioelectronic medicine and regenerative healthcare.