Elutia Inc. (NASDAQ:ELUT) Sees Large Decrease in Short Interest

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

Analyst Ratings Changes

Separately, Weiss Ratings cut Elutia from a “sell (d+)” rating to a “sell (d)” rating in a research report 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.com, the company has a consensus rating of “Hold” and an average price target of $6.00.

Elutia Trading Down 0.4%

ELUT traded down $0.00 during trading on Tuesday, hitting $0.86. 22,719 shares of the company traded hands, compared to its average volume of 146,589. The stock’s 50-day simple moving average is $0.92 and its two-hundred day simple moving average is $1.03. Elutia has a 1 year low of $0.50 and a 1 year high of $2.38. The company has a market cap of $38.13 million, a PE ratio of 0.91 and a beta of 0.87.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings data 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 negative return on equity of 407.37% and a net margin of 426.93%.The company had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.90 million.

Institutional Trading of Elutia

A number of hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Elutia during the third quarter worth $26,000. XTX Topco Ltd purchased a new position in shares of Elutia during the 2nd quarter valued at approximately $28,000. Rossmore Private Capital acquired a new position in shares of Elutia during the fourth quarter valued at approximately $35,000. Jane Street Group LLC acquired a new position in Elutia in the 1st quarter valued at $48,000. Finally, Citadel Advisors LLC purchased a new position in Elutia in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

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.