Elutia Inc. (NASDAQ:ELUT) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Elutia Inc. (NASDAQ:ELUT) by 50.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,408 shares of the company’s stock after purchasing an additional 63,047 shares during the period. Geode Capital Management LLC owned about 0.55% of Elutia worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Arcus Capital Partners LLC grew its position in 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 purchasing an additional 10,000 shares in the last quarter. Perkins Capital Management Inc. grew its position in 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 purchasing an additional 76,450 shares in the last quarter. Nantahala Capital Management LLC grew its position in Elutia by 8.8% during the second quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock valued at $8,907,000 after purchasing an additional 145,697 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Elutia by 50.5% during the second quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after purchasing an additional 18,000 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Elutia Stock Down 4.1 %

ELUT stock opened at $3.26 on Friday. The company has a market capitalization of $112.67 million, a price-to-earnings ratio of -1.25 and a beta of 0.89. Elutia Inc. has a 12 month low of $2.28 and a 12 month high of $5.24. The firm has a 50 day moving average of $3.98 and a two-hundred day moving average of $3.88.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Elutia in a research report 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.