Elutia Inc. (NASDAQ:ELUT) Short Interest Down 17.2% in February

Elutia Inc. (NASDAQ:ELUT) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 133,959 shares, a drop of 17.2% from the January 29th total of 161,769 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 151,978 shares, the short-interest ratio is presently 0.9 days. Based on an average trading volume of 151,978 shares, the short-interest ratio is presently 0.9 days. Approximately 0.4% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

ELUT has been the subject of several research analyst reports. Wall Street Zen raised shares of Elutia to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Elutia in a report on Wednesday, January 21st. 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, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

Elutia Price Performance

NASDAQ ELUT traded down $0.01 during trading hours on Tuesday, hitting $1.14. The company had a trading volume of 3,181 shares, compared to its average volume of 271,887. The firm’s 50 day moving average is $0.89 and its 200 day moving average is $1.02. Elutia has a fifty-two week low of $0.50 and a fifty-two week high of $3.46. The company has a market capitalization of $48.46 million, a price-to-earnings ratio of -1.23 and a beta of 0.65.

Insiders Place Their Bets

In related news, CFO Matthew Ferguson acquired 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average price of $0.53 per share, for a total transaction of $31,800.00. Following the transaction, the chief financial officer owned 447,110 shares in the company, valued at $236,968.30. This trade represents a 15.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Rakin purchased 70,000 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were purchased at an average cost of $1.06 per share, for a total transaction of $74,200.00. Following the completion of the purchase, the director directly owned 196,120 shares in the company, valued at $207,887.20. The trade was a 55.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 255,500 shares of company stock worth $189,605. Corporate insiders own 27.60% of the company’s stock.

Institutional Trading of Elutia

Several large investors have recently bought and sold shares of ELUT. Knollwood Investment Advisory LLC grew its stake in Elutia by 147.8% during the 4th quarter. Knollwood Investment Advisory LLC now owns 2,556,724 shares of the company’s stock valued at $1,771,000 after purchasing an additional 1,525,157 shares in the last quarter. Deerfield Management Company L.P. purchased a new position in shares of Elutia during the 3rd quarter valued at approximately $1,221,000. XTX Topco Ltd acquired a new stake in shares of Elutia during the fourth quarter worth approximately $71,000. Citadel Advisors LLC bought a new stake in shares of Elutia in the third quarter worth $50,000. Finally, Rossmore Private Capital acquired a new stake in Elutia in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Elutia Company Profile

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.