Short Interest in Elutia Inc. (NASDAQ:ELUT) Rises By 62.3%

Elutia Inc. (NASDAQ:ELUT) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 96,400 shares, a growth of 62.3% from the January 31st total of 59,400 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 41,300 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Elutia

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in shares of Elutia by 30.0% in the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock worth $67,000 after buying an additional 4,148 shares during the last quarter. Millennium Management LLC lifted its position in shares of Elutia by 16.4% in the fourth quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock worth $169,000 after buying an additional 6,386 shares during the last quarter. Arcus Capital Partners LLC lifted its position in shares of Elutia by 100.0% in the third quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock worth $76,000 after buying an additional 10,000 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Elutia during the 4th quarter worth about $84,000. Finally, Geode Capital Management LLC boosted its stake in Elutia by 50.3% during the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after purchasing an additional 63,047 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Elutia Stock Down 5.7 %

Shares of NASDAQ:ELUT traded down $0.18 on Tuesday, reaching $2.96. The company had a trading volume of 16,152 shares, compared to its average volume of 37,274. Elutia has a twelve month low of $2.28 and a twelve month high of $5.24. The stock has a 50-day moving average price of $3.21 and a 200 day moving average price of $3.67. The stock has a market capitalization of $102.30 million, a P/E ratio of -1.13 and a beta of 0.86.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Elutia in a research note on Friday, November 15th.

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.