Elutia Inc. (NASDAQ:ELUT) Sees Large Decline in Short Interest

Elutia Inc. (NASDAQ:ELUT) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 16,949 shares, a decrease of 34.5% from the August 15th total of 25,859 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 72,592 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Elutia

Large investors have recently made changes to their positions in the company. Rossmore Private Capital raised its holdings in shares of Elutia by 140.0% in the 1st quarter. Rossmore Private Capital now owns 120,000 shares of the company’s stock valued at $126,000 after purchasing an additional 70,000 shares in the last quarter. AIGH Capital Management LLC lifted its holdings in shares of Elutia by 17.2% in the 1st quarter. AIGH Capital Management LLC now owns 3,595,250 shares of the company’s stock valued at $3,775,000 after purchasing an additional 527,065 shares during the last quarter. Finally, Knollwood Investment Advisory LLC boosted its holdings in shares of Elutia by 147.8% in the fourth quarter. Knollwood Investment Advisory LLC now owns 2,556,724 shares of the company’s stock valued at $1,771,000 after acquiring an additional 1,525,157 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Elutia Stock Performance

NASDAQ:ELUT opened at $0.85 on Friday. Elutia has a fifty-two week low of $0.50 and a fifty-two week high of $1.39. The company has a 50 day moving average price of $0.88 and a 200 day moving average price of $1.00. The stock has a market capitalization of $37.65 million, a P/E ratio of 0.89 and a beta of 0.88.

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

Analysts Set New Price Targets

Separately, Weiss Ratings cut Elutia from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Elutia Company Profile

Elutia Inc (NASDAQ: ELUT) is a medical technology company focused on developing and commercializing biologic and drug-eluting products for regenerative medicine and implantable medical devices. Its technologies are designed to support tissue healing, improve the performance of implanted devices and address clinical needs in areas including cardiac care and orthopedics.

The company’s product portfolio has included the CanGaroo family of biologic envelopes, which are used to help manage and protect implantable electronic devices such as pacemakers and defibrillators.