Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 52,925 shares, an increase of 106.2% from the June 15th total of 25,665 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 82,561 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in shares of Elutia during the fourth quarter worth approximately $25,000. Virtu Financial LLC purchased a new position in Elutia in the 3rd quarter valued at $26,000. XTX Topco Ltd acquired a new position in Elutia in the 2nd quarter valued at $28,000. Rossmore Private Capital acquired a new position in Elutia in the 4th quarter valued at $35,000. Finally, Jane Street Group LLC acquired a new stake in shares of Elutia in the 1st quarter worth $48,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Elutia Stock Performance

Elutia stock traded down $0.01 during midday trading on Thursday, hitting $0.95. 67,948 shares of the company’s stock were exchanged, compared to its average volume of 161,259. The stock has a market cap of $40.64 million, a price-to-earnings ratio of 1.10 and a beta of 0.85. Elutia has a 12-month low of $0.50 and a 12-month high of $2.50. The firm’s 50 day simple moving average is $1.02 and its 200 day simple moving average is $1.01.

Elutia (NASDAQ:ELUT) last announced its earnings results on Thursday, May 14th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates 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.

Analysts Set New Price Targets

ELUT has been the subject of several research reports. Weiss Ratings raised Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 7th. Wall Street Zen raised Elutia from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

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.