Short Interest in Elutia Inc. (NASDAQ:ELUT) Increases By 62.3%

Elutia Inc. (NASDAQ:ELUT) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 96,400 shares, a growth of 62.3% from the January 31st total of 59,400 shares. Based on an average daily trading volume, of 41,300 shares, the short-interest ratio is presently 2.3 days. Currently, 0.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Elutia in a report on Friday, November 15th.

Elutia Trading Down 5.7 %

ELUT stock traded down $0.18 during mid-day trading on Tuesday, reaching $2.96. 16,152 shares of the stock traded hands, compared to its average volume of 37,274. Elutia has a 52-week low of $2.28 and a 52-week high of $5.24. The stock’s fifty day moving average is $3.21 and its 200-day moving average is $3.67. The company has a market cap of $102.30 million, a P/E ratio of -1.13 and a beta of 0.86.

Institutional Trading of Elutia

Several large investors have recently added to or reduced their stakes in ELUT. Perkins Capital Management Inc. boosted its position in shares of Elutia by 9.8% in the third quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock worth $3,263,000 after buying an additional 76,450 shares during the period. Arcus Capital Partners LLC grew its holdings in shares of Elutia by 100.0% during the third quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after buying an additional 10,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Elutia by 50.3% during the third quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after buying an additional 63,047 shares in the last quarter. AIGH Capital Management LLC grew its holdings in shares of Elutia by 22.5% during the fourth quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company’s stock valued at $11,499,000 after buying an additional 564,233 shares in the last quarter. Finally, Silverarc Capital Management LLC grew its holdings in shares of Elutia by 8.3% during the fourth quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock valued at $6,666,000 after buying an additional 136,463 shares in the last quarter. 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.