Cantor Fitzgerald Reaffirms “Overweight” Rating for Elutia (NASDAQ:ELUT)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Elutia (NASDAQ:ELUT) in a research note issued to investors on Friday,Benzinga reports. They currently have a $10.00 price objective on the stock.

Elutia Trading Up 1.4 %

Shares of NASDAQ ELUT opened at $3.61 on Friday. Elutia has a 1-year low of $1.45 and a 1-year high of $5.24. The company has a 50-day moving average of $3.72 and a two-hundred day moving average of $3.70. The company has a market cap of $122.96 million, a PE ratio of -1.38 and a beta of 0.76.

Hedge Funds Weigh In On Elutia

Several institutional investors have recently modified their holdings of ELUT. Arcus Capital Partners LLC acquired a new position in Elutia in the second quarter valued at about $50,000. Renaissance Technologies LLC increased its stake in Elutia by 50.5% during the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after purchasing an additional 18,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Elutia by 50.3% during the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock worth $718,000 after buying an additional 63,047 shares during the period. Perkins Capital Management Inc. lifted its stake in Elutia by 9.8% in the third quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock valued at $3,263,000 after buying an additional 76,450 shares in the last quarter. Finally, AIGH Capital Management LLC boosted its holdings in shares of Elutia by 288.8% in the second quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock valued at $8,419,000 after buying an additional 1,260,750 shares during the period. 74.03% of the stock is currently 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.