Insider Buying: Elutia (NASDAQ:ELUT) Director Acquires 15,000 Shares of Stock

Elutia Inc. (NASDAQ:ELUT) Director Guido Neels acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were purchased at an average cost of $1.06 per share, with a total value of $15,900.00. Following the transaction, the director directly owned 83,750 shares of the company’s stock, valued at $88,775. This trade represents a 21.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Elutia Stock Performance

Shares of Elutia stock remained flat at $1.05 on Thursday. 365,089 shares of the stock were exchanged, compared to its average volume of 378,599. Elutia Inc. has a 12 month low of $0.50 and a 12 month high of $3.46. The stock has a market cap of $44.84 million, a price-to-earnings ratio of -1.14 and a beta of 0.62. The firm’s 50 day simple moving average is $0.70 and its 200 day simple moving average is $1.18.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) 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, research analysts predict that Elutia Inc. will post -1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ELUT. FNY Investment Advisers LLC acquired a new stake in Elutia in the fourth quarter worth $25,000. Virtu Financial LLC bought a new position in shares of Elutia during the 3rd quarter worth about $26,000. XTX Topco Ltd bought a new stake in Elutia in the 2nd quarter valued at about $28,000. Jane Street Group LLC acquired a new position in Elutia during the 1st quarter worth approximately $48,000. Finally, Citadel Advisors LLC bought a new position in Elutia in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ELUT. Wall Street Zen upgraded Elutia to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.