Cantor Fitzgerald Increases Elutia (NASDAQ:ELUT) Price Target to $11.00

Elutia (NASDAQ:ELUT) had its target price upped by research analysts at Cantor Fitzgerald from $5.00 to $11.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 236.39% from the company’s previous close.

Elutia Stock Performance

ELUT stock opened at $3.27 on Tuesday. Elutia has a 52 week low of $1.10 and a 52 week high of $4.39. The firm’s fifty day moving average is $3.18 and its 200 day moving average is $3.14. The firm has a market cap of $79.36 million, a P/E ratio of -1.38 and a beta of 0.61.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.75) earnings per share (EPS) for the quarter. The business had revenue of $6.69 million for the quarter. As a group, analysts forecast that Elutia will post -1.38 EPS for the current year.

Institutional Investors Weigh In On Elutia

A hedge fund recently bought a new stake in Elutia stock. Verdence Capital Advisors LLC purchased a new position in Elutia Inc. (NASDAQ:ELUT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,410 shares of the company’s stock, valued at approximately $45,000. Verdence Capital Advisors LLC owned about 0.06% of Elutia as of its most recent SEC filing. 74.03% of the stock is owned by institutional investors and hedge funds.

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.