Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 47,300 shares, a decrease of 30.1% from the February 28th total of 67,700 shares. Based on an average daily trading volume, of 45,300 shares, the short-interest ratio is currently 1.0 days. Approximately 0.2% of the company’s shares are sold short.

Elutia Price Performance

ELUT traded down $0.02 during trading hours on Friday, reaching $2.64. 16,857 shares of the stock traded hands, compared to its average volume of 46,840. Elutia has a fifty-two week low of $2.28 and a fifty-two week high of $5.24. The company has a market cap of $107.55 million, a price-to-earnings ratio of -1.01 and a beta of 0.86. The firm’s fifty day simple moving average is $2.97 and its two-hundred day simple moving average is $3.53.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price objective on shares of Elutia in a research report on Friday, March 7th.

Insider Buying and Selling

In other news, Director Highcape Capital, L.P. bought 420,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was acquired at an average price of $2.50 per share, for a total transaction of $1,050,000.00. Following the acquisition, the director now owns 9,520,232 shares of the company’s stock, valued at $23,800,580. This trade represents a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 40.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ELUT. Geode Capital Management LLC raised its position in shares of Elutia by 50.3% in 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 in the last quarter. AIGH Capital Management LLC increased 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 acquiring an additional 564,233 shares during the last quarter. Millennium Management LLC lifted its stake in 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 purchasing an additional 6,386 shares during the last quarter. Citadel Advisors LLC acquired a new position in Elutia in the fourth quarter worth $84,000. Finally, Northern Trust Corp boosted its stake in Elutia by 30.0% in the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after acquiring an additional 4,148 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

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.