Elutia Inc. (NASDAQ:ELUT) Stock Short Interest Jumps 63.8%

Elutia Inc. (NASDAQ:ELUT) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 15,326 shares, a growth of 63.8% from the September 30th total of 9,359 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 788,498 shares, the short-interest ratio is currently 0.0 days.

Elutia Trading Up 0.5%

NASDAQ ELUT traded up $0.00 on Monday, hitting $0.84. 18,199 shares of the stock traded hands, compared to its average volume of 165,078. The stock has a 50-day moving average of $0.83 and a 200 day moving average of $0.97. Elutia has a twelve month low of $0.50 and a twelve month high of $1.39. The company has a market capitalization of $37.25 million, a P/E ratio of 0.89 and a beta of 0.84.

Elutia (NASDAQ:ELUT) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Elutia had a negative return on equity of 407.37% and a net margin of 426.93%. The business had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.90 million.

Institutional Trading of Elutia

A hedge fund recently raised its position in Elutia stock. AIGH Capital Management LLC raised its holdings in shares of Elutia Inc. (NASDAQ:ELUT) by 17.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,595,250 shares of the company’s stock after purchasing an additional 527,065 shares during the period. Elutia accounts for approximately 0.5% of AIGH Capital Management LLC’s holdings, making the stock its 27th biggest holding. AIGH Capital Management LLC owned about 8.40% of Elutia worth $3,775,000 at the end of the most recent quarter. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Elutia from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Elutia currently has a consensus rating of “Sell”.

About Elutia

Elutia Inc is a medical technology company focused on developing and commercializing biologic products designed to support tissue healing and improve the performance of implantable medical devices. The company combines human tissue-based materials with drug-delivery and regenerative medicine technologies.

Its product portfolio includes biologic envelopes used to protect and support cardiac implantable electronic devices, including pacemakers and defibrillators. Elutia also develops tissue matrices and other biologic products for orthopedic, wound care and related surgical applications, with products intended to support soft-tissue repair, reconstruction and healing.

The company was formerly known as Aziyo Biologics and adopted the Elutia name as part of its broader focus on bioelectronic medicine and regenerative healthcare.