Elutia (NASDAQ:ELUT) Director Buys $13,000.00 in Stock

Elutia Inc. (NASDAQ:ELUT) Director Brigid Makes bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was acquired at an average cost of $0.52 per share, for a total transaction of $13,000.00. Following the completion of the purchase, the director directly owned 27,000 shares of the company’s stock, valued at $14,040. The trade was a 1,250.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Elutia Price Performance

Shares of NASDAQ:ELUT opened at $0.59 on Friday. The stock’s 50-day moving average is $0.76 and its 200 day moving average is $1.42. The company has a market cap of $25.04 million, a PE ratio of -0.64 and a beta of 0.63. Elutia Inc. has a 1 year low of $0.50 and a 1 year high of $4.84.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The business had revenue of $3.32 million during the quarter, compared to the consensus estimate of $6.65 million. Analysts expect that Elutia Inc. will post -1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Elutia

Institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. boosted its holdings in shares of Elutia by 310.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,643,445 shares of the company’s stock valued at $6,688,000 after buying an additional 2,000,000 shares in the last quarter. Nantahala Capital Management LLC increased its stake in shares of Elutia by 11.2% in the 1st quarter. Nantahala Capital Management LLC now owns 3,184,947 shares of the company’s stock worth $8,058,000 after acquiring an additional 320,000 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Elutia in the 1st quarter worth about $28,000. AIGH Capital Management LLC lifted its position in Elutia by 2.1% during the 2nd quarter. AIGH Capital Management LLC now owns 3,451,025 shares of the company’s stock valued at $6,833,000 after acquiring an additional 69,610 shares during the period. Finally, Knollwood Investment Advisory LLC boosted its stake in Elutia by 10.7% during the first quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company’s stock worth $2,618,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.