Elutia’s (ELUT) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Elutia (NASDAQ:ELUT) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $10.00 target price on the stock.

Elutia Stock Performance

Shares of ELUT stock traded down $0.27 during trading on Friday, hitting $3.56. The company had a trading volume of 49,974 shares, compared to its average volume of 41,925. The firm has a market capitalization of $121.25 million, a P/E ratio of -1.25 and a beta of 0.76. Elutia has a one year low of $1.39 and a one year high of $5.24. The stock’s 50-day moving average price is $3.73 and its 200 day moving average price is $3.68.

Institutional Trading of Elutia

Several large investors have recently modified their holdings of ELUT. AIGH Capital Management LLC raised its stake in Elutia by 288.8% in the second quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock valued at $8,419,000 after purchasing an additional 1,260,750 shares in the last quarter. Nantahala Capital Management LLC boosted its position in shares of Elutia by 8.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock worth $8,907,000 after acquiring an additional 145,697 shares in the last quarter. Arcus Capital Partners LLC increased its stake in shares of Elutia by 100.0% in the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after purchasing an additional 10,000 shares during the last quarter. Renaissance Technologies LLC grew its position in Elutia by 50.5% in the second quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of 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 last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Elutia Company Profile

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.