Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 183,007 shares, a growth of 112.2% from the December 15th total of 86,257 shares. Based on an average daily trading volume, of 829,884 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.6% of the company’s stock are sold short. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 829,884 shares, the days-to-cover ratio is presently 0.2 days.

Insider Activity

In other Elutia news, CFO Matthew Ferguson purchased 60,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was acquired at an average cost of $0.53 per share, with a total value of $31,800.00. Following the acquisition, the chief financial officer owned 447,110 shares of the company’s stock, valued at approximately $236,968.30. This represents a 15.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Rakin purchased 50,000 shares of Elutia stock in a transaction dated Wednesday, December 17th. The shares were purchased at an average cost of $0.52 per share, with a total value of $26,000.00. Following the acquisition, the director owned 322,419 shares of the company’s stock, valued at approximately $167,657.88. This trade represents a 18.35% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 194,500 shares of company stock worth $109,910. Insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Elutia

A number of large investors have recently modified their holdings of ELUT. Arcus Capital Partners LLC raised its position in Elutia by 50.3% during the second quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock valued at $59,000 after purchasing an additional 10,050 shares in the last quarter. XTX Topco Ltd purchased a new stake in Elutia in the second quarter worth $28,000. Jane Street Group LLC purchased a new position in shares of Elutia during the first quarter valued at approximately $48,000. Virtu Financial LLC bought a new stake in Elutia during the 3rd quarter valued at about $26,000. Finally, Citadel Advisors LLC bought a new position in shares of Elutia during the third quarter valued at $50,000. 74.03% of the stock is currently owned by institutional investors.

Elutia Stock Down 1.2%

Shares of NASDAQ:ELUT traded down $0.01 during trading on Wednesday, reaching $0.87. 105,272 shares of the company traded hands, compared to its average volume of 399,804. The firm has a market capitalization of $36.94 million, a PE ratio of -0.94 and a beta of 0.62. The company’s 50 day moving average is $0.67 and its two-hundred day moving average is $1.27. Elutia has a 52 week low of $0.50 and a 52 week high of $3.46.

Elutia (NASDAQ:ELUT) last posted its earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $3.32 million for the quarter, compared to the consensus estimate of $6.65 million. As a group, research analysts anticipate that Elutia will post -1.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Wall Street Zen upgraded Elutia to a “sell” rating in a research report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.