Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) saw a large drop in short interest during the month of 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 volume of 112,225 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Elutia Stock Performance

ELUT stock traded down $0.02 on Wednesday, reaching $0.96. The company had a trading volume of 139,182 shares, compared to its average volume of 171,584. Elutia has a 1 year low of $0.50 and a 1 year high of $2.64. The company’s fifty day moving average is $1.05 and its 200 day moving average is $0.98. The company has a market cap of $41.03 million, a P/E ratio of 1.12 and a beta of 0.80.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The company had revenue of $3.11 million during the quarter, compared to analysts’ expectations of $3.00 million.

Institutional Trading of Elutia

A number of institutional investors have recently added to or reduced their stakes in ELUT. AIGH Capital Management LLC raised 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 purchasing an additional 527,065 shares during the period. Knollwood Investment Advisory LLC lifted 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 worth $1,771,000 after buying an additional 1,525,157 shares in the last quarter. Deerfield Management Company L.P. acquired a new position in Elutia in the 3rd quarter worth $1,221,000. Rossmore Private Capital boosted its position in Elutia by 140.0% in the 1st quarter. Rossmore Private Capital now owns 120,000 shares of the company’s stock valued at $126,000 after buying an additional 70,000 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Elutia in the 4th quarter valued at about $71,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings downgraded Elutia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded Elutia from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Elutia has an average rating of “Hold” and an average price target of $6.00.

About Elutia

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.