Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) saw a significant decrease in short interest during the month of 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 daily trading volume, of 41,100 shares, the short-interest ratio is currently 1.6 days. Approximately 0.3% of the shares of the stock are short sold.

Elutia Price Performance

Shares of NASDAQ:ELUT traded down $0.02 during trading on Tuesday, hitting $3.18. The company had a trading volume of 26,745 shares, compared to its average volume of 45,066. The stock has a market cap of $109.91 million, a price-to-earnings ratio of -1.22 and a beta of 0.86. Elutia has a one year low of $2.28 and a one year high of $5.24. The company has a fifty day simple moving average of $3.04 and a two-hundred day simple moving average of $3.60.

Analyst Ratings Changes

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

Insider Activity at Elutia

In other news, Director Highcape Capital, L.P. purchased 420,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average cost of $2.50 per share, with a total value of $1,050,000.00. Following the completion of the purchase, the director now owns 9,520,232 shares in the company, valued at approximately $23,800,580. This represents a 4.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 40.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Elutia

Several institutional investors have recently modified their holdings of ELUT. Northern Trust Corp lifted its stake in shares of Elutia by 30.0% in the 4th quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after purchasing an additional 4,148 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Elutia in the fourth quarter worth approximately $84,000. Millennium Management LLC raised its holdings 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 period. 683 Capital Management LLC purchased a new stake in shares of Elutia in the fourth quarter worth approximately $302,000. Finally, Geode Capital Management LLC raised its holdings in shares of Elutia by 50.3% in the third quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $718,000 after buying an additional 63,047 shares during the period. 74.03% of the stock is owned by institutional investors.

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.