Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 8,223 shares, a decrease of 51.5% from the August 31st total of 16,949 shares. Based on an average daily volume of 27,409 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company’s shares are short sold.

Elutia Trading Down 2.6%

NASDAQ:ELUT traded down $0.02 on Tuesday, reaching $0.79. The stock had a trading volume of 11,463 shares, compared to its average volume of 134,625. The company has a 50-day moving average of $0.87 and a 200 day moving average of $0.99. The stock has a market cap of $34.94 million, a P/E ratio of 0.83 and a beta of 0.88. Elutia has a 12-month low of $0.50 and a 12-month high of $1.39.

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

Institutional Investors Weigh In On Elutia

Several institutional investors and hedge funds have recently bought and sold shares of the business. AIGH Capital Management LLC grew its holdings in shares of Elutia by 17.2% during the first 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. Knollwood Investment Advisory LLC lifted its holdings in shares of Elutia by 147.8% in the 4th quarter. Knollwood Investment Advisory LLC now owns 2,556,724 shares of the company’s stock worth $1,771,000 after purchasing an additional 1,525,157 shares during the last quarter. Finally, Rossmore Private Capital boosted its position in Elutia by 140.0% during 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 during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of 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, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Elutia

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.