Elutia (NASDAQ:ELUT) Raised to “Sell” at Wall Street Zen

Elutia (NASDAQ:ELUT) was upgraded by equities research analysts at Wall Street Zen to a “sell” rating in a report issued on Saturday.

Several other brokerages also recently weighed in on ELUT. Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Lake Street Capital reduced their price objective on shares of Elutia from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Elutia Stock Performance

Elutia stock opened at $0.90 on Friday. The company has a market cap of $37.95 million, a P/E ratio of -0.84 and a beta of 0.78. Elutia has a one year low of $0.85 and a one year high of $5.12. The business has a fifty day moving average of $1.11 and a two-hundred day moving average of $1.68.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.15. The firm had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $6.65 million. Sell-side analysts predict that Elutia will post -1.74 EPS for the current year.

Institutional Trading of Elutia

Large investors have recently modified their holdings of the business. AIGH Capital Management LLC increased its stake in shares of Elutia by 10.0% in the first quarter. AIGH Capital Management LLC now owns 3,381,415 shares of the company’s stock worth $8,555,000 after buying an additional 306,740 shares during the last quarter. Perkins Capital Management Inc. increased its position in shares of Elutia by 32.1% in the 1st quarter. Perkins Capital Management Inc. now owns 1,136,377 shares of the company’s stock worth $2,875,000 after purchasing an additional 276,300 shares during the last quarter. Knollwood Investment Advisory LLC raised its stake in shares of Elutia by 10.7% in the 1st quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company’s stock valued at $2,618,000 after purchasing an additional 100,000 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Elutia during the first quarter worth about $28,000. Finally, Nantahala Capital Management LLC grew its stake in Elutia by 11.2% in the first quarter. Nantahala Capital Management LLC now owns 3,184,947 shares of the company’s stock worth $8,058,000 after purchasing an additional 320,000 shares in the last quarter. 74.03% of the stock is currently 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.