Insider Buying: Elutia (NASDAQ:ELUT) Director Purchases 70,000 Shares of Stock

Elutia Inc. (NASDAQ:ELUT) Director Kevin Rakin purchased 70,000 shares of Elutia stock in a transaction on Friday, January 30th. The stock was purchased at an average price of $1.06 per share, for a total transaction of $74,200.00. Following the completion of the transaction, the director owned 196,120 shares of the company’s stock, valued at approximately $207,887.20. This represents a 55.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kevin Rakin also recently made the following trade(s):

• On Wednesday, December 17th, Kevin Rakin acquired 50,000 shares of Elutia stock. The shares were purchased at an average cost of $0.52 per share, with a total value of $26,000.00.

Elutia Price Performance

Shares of ELUT traded down $0.03 on Monday, hitting $1.02. The company’s stock had a trading volume of 226,475 shares, compared to its average volume of 378,687. The company has a market capitalization of $43.56 million, a PE ratio of -1.11 and a beta of 0.62. Elutia Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $3.46. The company has a 50 day moving average price of $0.71 and a 200 day moving average price of $1.16.

Elutia (NASDAQ:ELUT) last issued its earnings results on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.15. The business had revenue of $3.32 million for the quarter, compared to the consensus estimate of $6.65 million. On average, equities analysts forecast that Elutia Inc. will post -1.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ELUT. Wall Street Zen raised Elutia to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ELUT. AIGH Capital Management LLC lifted its position in Elutia by 2.1% during the second quarter. AIGH Capital Management LLC now owns 3,451,025 shares of the company’s stock worth $6,833,000 after acquiring an additional 69,610 shares during the last quarter. Deerfield Management Company L.P. acquired a new stake in Elutia during the 3rd quarter worth approximately $1,221,000. Citadel Advisors LLC bought a new stake in Elutia in the 3rd quarter valued at $50,000. FNY Investment Advisers LLC acquired a new position in Elutia in the 4th quarter valued at $25,000. Finally, Arcus Capital Partners LLC increased its position in Elutia by 50.3% during the 2nd quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock worth $59,000 after buying an additional 10,050 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

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.