Elutia (NASDAQ:ELUT) CFO Purchases $31,800.00 in Stock

Elutia Inc. (NASDAQ:ELUT) CFO Matthew Ferguson acquired 60,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was bought at an average price of $0.53 per share, for a total transaction of $31,800.00. Following the purchase, the chief financial officer owned 447,110 shares in the company, valued at approximately $236,968.30. This trade represents a 15.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Matthew Ferguson also recently made the following trade(s):

• On Tuesday, December 2nd, Matthew Ferguson bought 5,500 shares of Elutia stock. The shares were bought at an average cost of $0.67 per share, with a total value of $3,685.00.
• On Monday, December 1st, Matthew Ferguson purchased 4,500 shares of Elutia stock. The shares were bought at an average price of $0.65 per share, for a total transaction of $2,925.00.

Elutia Trading Up 8.0%

NASDAQ ELUT opened at $0.59 on Friday. Elutia Inc. has a 1-year low of $0.50 and a 1-year high of $4.84. The firm’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $1.42. The company has a market capitalization of $25.04 million, a PE ratio of -0.64 and a beta of 0.63.

Elutia (NASDAQ:ELUT) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $3.32 million for the quarter, compared to analyst estimates of $6.65 million. As a group, analysts predict that Elutia Inc. will post -1.74 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELUT shares. Wall Street Zen raised Elutia to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a research report on Wednesday, October 8th. Finally, Lake Street Capital dropped their price target on shares of Elutia from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.00.

Institutional Investors Weigh In On Elutia

Large investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp acquired a new position in Elutia during the first quarter valued at approximately $28,000. XTX Topco Ltd bought a new stake in shares of Elutia during the 2nd quarter worth $28,000. Jane Street Group LLC acquired a new position in Elutia in the 1st quarter valued at $48,000. Virtu Financial LLC acquired a new position in Elutia in the 3rd quarter valued at $26,000. Finally, Arcus Capital Partners LLC raised its holdings in Elutia by 50.3% in the 2nd quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock worth $59,000 after acquiring an additional 10,050 shares during the period. Institutional investors own 74.03% of the company’s stock.

About Elutia

Elutia, Inc is a biopharmaceutical company focused on the development of novel nitric oxide therapies based on its proprietary polymeric nitric oxide platform. This technology is designed to enable sustained, controlled release of nitric oxide to targeted tissues, potentially overcoming the delivery challenges associated with gaseous nitric oxide and small‐molecule donors.

The company’s lead program is in preclinical development for pulmonary arterial hypertension, with additional research efforts aimed at other cardiovascular and respiratory conditions.