Elutia’s (ELUT) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Elutia (NASDAQ:ELUT) in a research note published on Friday morning,Benzinga reports. They currently have a $8.00 price objective on the stock.

Elutia Price Performance

Elutia stock opened at $2.78 on Friday. The business has a 50 day simple moving average of $3.10 and a 200-day simple moving average of $3.64. The stock has a market capitalization of $96.08 million, a PE ratio of -1.07 and a beta of 0.86. Elutia has a 12 month low of $2.28 and a 12 month high of $5.24.

Institutional Trading of Elutia

A number of institutional investors have recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Elutia by 30.0% in the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock worth $67,000 after acquiring an additional 4,148 shares during the last quarter. Millennium Management LLC boosted its stake in Elutia by 16.4% during the fourth quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock worth $169,000 after buying an additional 6,386 shares during the last quarter. Arcus Capital Partners LLC boosted its stake in Elutia by 100.0% during the third quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock worth $76,000 after buying an additional 10,000 shares during the last quarter. Citadel Advisors LLC acquired a new position in Elutia during the fourth quarter worth $84,000. Finally, Geode Capital Management LLC boosted its stake in Elutia by 50.3% during the third 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 last quarter. 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.