Elutia Inc. (NASDAQ:ELUT – Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 70,500 shares, a decrease of 30.1% from the August 31st total of 100,800 shares. Based on an average daily volume of 69,100 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.4% of the shares of the company are sold short.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Elutia in a report on Friday, September 6th. Lake Street Capital upped their price target on Elutia from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, June 21st.
Check Out Our Latest Analysis on Elutia
Elutia Stock Down 1.5 %
Elutia (NASDAQ:ELUT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.14) EPS for the quarter. The business had revenue of $6.29 million during the quarter. As a group, analysts forecast that Elutia will post -3.06 EPS for the current fiscal year.
Hedge Funds Weigh In On Elutia
A number of hedge funds have recently modified their holdings of the stock. Nantahala Capital Management LLC raised its holdings in shares of Elutia by 8.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock worth $8,907,000 after buying an additional 145,697 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Elutia by 50.5% in the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after buying an additional 18,000 shares in the last quarter. AIGH Capital Management LLC raised its holdings in shares of Elutia by 288.8% in the 2nd quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock worth $8,419,000 after buying an additional 1,260,750 shares in the last quarter. Arcus Capital Partners LLC acquired a new position in shares of Elutia in the 2nd quarter worth approximately $50,000. Finally, Perkins Capital Management Inc. acquired a new position in shares of Elutia in the 1st quarter worth approximately $2,512,000. 74.03% of the stock is owned by institutional investors and hedge funds.
Elutia Company Profile
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.
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