Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the recipient of a significant growth in short interest in the month of 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. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 41,300 shares, the days-to-cover ratio is currently 2.3 days.

Elutia Stock Performance

Shares of NASDAQ ELUT opened at $3.28 on Friday. Elutia has a 52-week low of $2.28 and a 52-week high of $5.24. The firm has a market capitalization of $113.36 million, a price-to-earnings ratio of -1.26 and a beta of 0.87. The stock has a 50 day moving average price of $3.24 and a 200 day moving average price of $3.67.

Institutional Investors Weigh In On Elutia

Hedge funds have recently made changes to their positions in the company. Perkins Capital Management Inc. increased its stake in shares of Elutia by 9.8% during 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 during the period. Arcus Capital Partners LLC increased its position in Elutia by 100.0% during the 3rd quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after purchasing an additional 10,000 shares during the period. Geode Capital Management LLC raised its holdings in shares of Elutia by 50.3% in the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after purchasing an additional 63,047 shares in the last quarter. AIGH Capital Management LLC increased its holdings in 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 during the period. Finally, Silverarc Capital Management LLC raised its stake in Elutia by 8.3% in the fourth quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock worth $6,666,000 after buying an additional 136,463 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.