Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 25,859 shares, a drop of 34.8% from the July 30th total of 39,655 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 40,564 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC lifted its stake in shares of Elutia by 17.2% during the first quarter. AIGH Capital Management LLC now owns 3,595,250 shares of the company’s stock valued at $3,775,000 after buying an additional 527,065 shares during the period. Knollwood Investment Advisory LLC grew its holdings in Elutia by 147.8% in the 4th quarter. Knollwood Investment Advisory LLC now owns 2,556,724 shares of the company’s stock valued at $1,771,000 after buying an additional 1,525,157 shares during the period. Deerfield Management Company L.P. acquired a new position in shares of Elutia during the 3rd quarter valued at about $1,221,000. Rossmore Private Capital increased its stake in shares of Elutia by 140.0% during the 1st quarter. Rossmore Private Capital now owns 120,000 shares of the company’s stock valued at $126,000 after acquiring an additional 70,000 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Elutia during the 4th quarter worth about $71,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Elutia from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Elutia has a consensus rating of “Hold” and a consensus target price of $6.00.

Elutia Price Performance

Shares of ELUT traded down $0.00 during mid-day trading on Tuesday, reaching $0.86. 22,719 shares of the company’s stock were exchanged, compared to its average volume of 146,589. Elutia has a 52-week low of $0.50 and a 52-week high of $2.38. The stock has a market capitalization of $38.13 million, a PE ratio of 0.91 and a beta of 0.87. The business’s fifty day simple moving average is $0.92 and its 200-day simple moving average is $1.03.

Elutia (NASDAQ:ELUT) last announced its earnings results on Thursday, August 13th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Elutia had a net margin of 426.93% and a negative return on equity of 407.37%. The company had revenue of $2.43 million during the quarter, compared to analysts’ expectations of $2.90 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.