Elutia (NASDAQ:ELUT) Issues Earnings Results

Elutia (NASDAQ:ELUT) posted its quarterly earnings data on Thursday. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02), FiscalAI reports. The business had revenue of $3.11 million for the quarter, compared to the consensus estimate of $3.00 million.

Elutia Stock Performance

Shares of NASDAQ ELUT traded down $0.01 during mid-day trading on Thursday, reaching $1.04. The company’s stock had a trading volume of 107,740 shares, compared to its average volume of 195,584. The stock has a 50-day moving average of $1.10 and a two-hundred day moving average of $0.91. The stock has a market capitalization of $44.50 million, a P/E ratio of 1.27 and a beta of 0.75. Elutia has a 1-year low of $0.50 and a 1-year high of $2.64.

Analyst Ratings Changes

A number of equities analysts have weighed in on ELUT shares. Weiss Ratings upgraded shares of Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Elutia from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.00.

Institutional Investors Weigh In On Elutia

A number of hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. acquired a new stake in shares of Elutia in the third quarter valued at about $1,221,000. XTX Topco Ltd acquired a new stake in shares of Elutia in the fourth quarter valued at about $71,000. Renaissance Technologies LLC raised its position in shares of Elutia by 64.7% in the fourth quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock valued at $71,000 after buying an additional 40,123 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Elutia in the third quarter valued at about $50,000. Finally, Virtu Financial LLC acquired a new stake in shares of Elutia in the third quarter valued at about $26,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Elutia Company Profile

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.