Elutia (NASDAQ:ELUT) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

Elutia Inc. (NASDAQ:ELUT) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $0.83 and traded as high as $0.86. Elutia shares last traded at $0.8371, with a volume of 138,308 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Elutia from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Elutia Stock Up 2.9%

The firm’s fifty day moving average price is $0.83 and its 200 day moving average price is $0.97. The stock has a market cap of $37.08 million, a PE ratio of 0.88 and a beta of 0.84.

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 analysts’ consensus estimates of ($0.15) by ($0.02). The firm had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $2.90 million. Elutia had a net margin of 426.93% and a negative return on equity of 407.37%.

Institutional Investors Weigh In On Elutia

A hedge fund recently raised its stake in Elutia stock. Rossmore Private Capital lifted its holdings in Elutia Inc. (NASDAQ:ELUT) by 140.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,000 shares of the company’s stock after buying an additional 70,000 shares during the quarter. Rossmore Private Capital owned approximately 0.28% of Elutia worth $126,000 at the end of the most recent quarter. Institutional investors own 74.03% of the company’s stock.

Elutia Company Profile

Elutia Inc is a medical technology company focused on developing and commercializing biologic products designed to support tissue healing and improve the performance of implantable medical devices. The company combines human tissue-based materials with drug-delivery and regenerative medicine technologies.

Its product portfolio includes biologic envelopes used to protect and support cardiac implantable electronic devices, including pacemakers and defibrillators. Elutia also develops tissue matrices and other biologic products for orthopedic, wound care and related surgical applications, with products intended to support soft-tissue repair, reconstruction and healing.

The company was formerly known as Aziyo Biologics and adopted the Elutia name as part of its broader focus on bioelectronic medicine and regenerative healthcare.