Elutia (NASDAQ:ELUT) CFO Matthew Ferguson Acquires 60,000 Shares of Stock

Elutia Inc. (NASDAQ:ELUT) CFO Matthew Ferguson purchased 60,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average price of $0.53 per share, for a total transaction of $31,800.00. Following the purchase, the chief financial officer directly owned 447,110 shares of the company’s stock, valued at approximately $236,968.30. The trade was a 15.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Matthew Ferguson also recently made the following trade(s):

• On Tuesday, December 2nd, Matthew Ferguson acquired 5,500 shares of Elutia stock. The stock was bought at an average cost of $0.67 per share, with a total value of $3,685.00.
• On Monday, December 1st, Matthew Ferguson bought 4,500 shares of Elutia stock. The shares were bought at an average cost of $0.65 per share, for a total transaction of $2,925.00.

Elutia Trading Up 7.5%

Shares of Elutia stock opened at $0.54 on Friday. The firm’s 50 day simple moving average is $0.77 and its two-hundred day simple moving average is $1.44. The firm has a market capitalization of $23.17 million, a price-to-earnings ratio of -0.59 and a beta of 0.63. Elutia Inc. has a 12-month low of $0.50 and a 12-month high of $4.84.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $6.65 million. On average, sell-side analysts predict that Elutia Inc. will post -1.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Arcus Capital Partners LLC boosted its holdings in Elutia by 50.3% during the second quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock worth $59,000 after buying an additional 10,050 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Elutia in the first quarter worth about $28,000. XTX Topco Ltd acquired a new position in shares of Elutia in the second quarter worth about $28,000. Jane Street Group LLC purchased a new stake in shares of Elutia during the 1st quarter worth about $48,000. Finally, Virtu Financial LLC acquired a new stake in shares of Elutia during the 3rd quarter valued at about $26,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ELUT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Elutia to a “sell” rating in a report on Saturday, November 8th. Finally, Lake Street Capital reduced their price target on shares of Elutia from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.00.

About Elutia

Elutia Inc, a commercial-stage company, develops and commercializes drug-eluting biologics products for neurostimulation, wound care, and breast reconstruction in the United States. The company operates in three segments: Device Protection; Women's Health; and Cardiovascular. It offers CanGaroo Envelope, which is used to accommodate cardiac implantable electronic devices, such as pacemakers and internal defibrillators.