Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 25,665 shares, a drop of 39.8% from the May 31st total of 42,627 shares. Based on an average daily trading volume, of 112,225 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Elutia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELUT. XTX Topco Ltd bought a new stake in shares of Elutia in the 2nd quarter worth $28,000. Jane Street Group LLC acquired a new stake in shares of Elutia in the first quarter valued at $48,000. Virtu Financial LLC bought a new position in Elutia during the third quarter valued at about $26,000. FNY Investment Advisers LLC bought a new position in Elutia during the fourth quarter valued at about $25,000. Finally, Renaissance Technologies LLC grew its holdings in Elutia by 64.7% during the fourth quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock worth $71,000 after acquiring an additional 40,123 shares during the period. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELUT. Wall Street Zen raised Elutia from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings downgraded Elutia from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Elutia presently has an average rating of “Hold” and an average price target of $6.00.

Elutia Stock Down 2.1%

ELUT stock traded down $0.02 during midday trading on Wednesday, reaching $0.96. The company had a trading volume of 139,182 shares, compared to its average volume of 171,584. The firm has a market capitalization of $41.03 million, a PE ratio of 1.12 and a beta of 0.80. The stock has a 50 day moving average price of $1.05 and a 200 day moving average price of $0.98. Elutia has a fifty-two week low of $0.50 and a fifty-two week high of $2.64.

Elutia (NASDAQ:ELUT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm had revenue of $3.11 million for the quarter, compared to analyst estimates of $3.00 million.

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.