Elutia Inc. (NASDAQ:ELUT) Short Interest Down 29.8% in February

Elutia Inc. (NASDAQ:ELUT) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 67,700 shares, a decrease of 29.8% from the February 13th total of 96,400 shares. Based on an average trading volume of 41,100 shares, the short-interest ratio is currently 1.6 days. Currently, 0.3% of the company’s stock are short sold.

Insider Buying and Selling

In other Elutia news, Director Highcape Capital, L.P. purchased 420,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of $2.50 per share, with a total value of $1,050,000.00. Following the acquisition, the director now directly owns 9,520,232 shares of the company’s stock, valued at $23,800,580. This trade represents a 4.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 40.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elutia

Several institutional investors and hedge funds have recently bought and sold shares of the company. AIGH Capital Management LLC boosted its holdings in shares of Elutia by 22.5% in the 4th quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company’s stock valued at $11,499,000 after purchasing an additional 564,233 shares in the last quarter. Silverarc Capital Management LLC boosted its stake in shares of Elutia by 8.3% in the 4th quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock valued at $6,666,000 after purchasing an additional 136,463 shares in the last quarter. 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. 683 Capital Management LLC bought a new position in Elutia in the 4th quarter valued at approximately $302,000. Finally, Millennium Management LLC grew its stake in shares of Elutia by 16.4% during 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. Institutional investors own 74.03% of the company’s stock.

Elutia Stock Up 0.9 %

Shares of ELUT traded up $0.03 during mid-day trading on Monday, hitting $3.21. 20,807 shares of the company’s stock were exchanged, compared to its average volume of 38,200. The stock’s 50-day simple moving average is $3.04 and its 200-day simple moving average is $3.60. The firm has a market cap of $110.94 million, a price-to-earnings ratio of -1.23 and a beta of 0.86. Elutia has a 52 week low of $2.28 and a 52 week high of $5.24.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 target price on shares of Elutia in a report on Friday, March 7th.

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.