Short Interest in Elutia Inc. (NASDAQ:ELUT) Increases By 106.2%

Elutia Inc. (NASDAQ:ELUT – Get Free Report) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 52,925 shares, an increase of 106.2% from the June 15th total of 25,665 shares. Based on an average trading volume of 82,561 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.2% of the shares of the stock are short sold.

Elutia Price Performance

Shares of ELUT traded up $0.04 during trading hours on Wednesday, hitting $0.95. 13,111 shares of the company were exchanged, compared to its average volume of 161,928. The company has a market capitalization of $40.60 million, a PE ratio of 1.10 and a beta of 0.85. The firm has a fifty day simple moving average of $1.02 and a 200-day simple moving average of $1.01. Elutia has a one year low of $0.50 and a one year high of $2.50.

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Elutia (NASDAQ:ELUT – Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The company had revenue of $3.11 million during the quarter, compared to analyst estimates of $3.00 million.

Hedge Funds Weigh In On Elutia

A number of institutional investors have recently bought and sold shares of ELUT. FNY Investment Advisers LLC purchased a new stake in Elutia during the fourth quarter valued at about $25,000. Virtu Financial LLC purchased a new position in shares of Elutia in the third quarter worth approximately $26,000. XTX Topco Ltd purchased a new position in shares of Elutia in the second quarter worth approximately $28,000. Rossmore Private Capital acquired a new stake in shares of Elutia during the fourth quarter valued at approximately $35,000. Finally, Jane Street Group LLC acquired a new stake in shares of Elutia during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ELUT. Weiss Ratings upgraded shares of Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Elutia from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

View Our Latest Analysis on ELUT

About Elutia

(Get Free Report)

Elutia, Inc is a biopharmaceutical company focused on the development of novel nitric oxide therapies based on its proprietary polymeric nitric oxide platform. This technology is designed to enable sustained, controlled release of nitric oxide to targeted tissues, potentially overcoming the delivery challenges associated with gaseous nitric oxide and small‐molecule donors.

The company’s lead program is in preclinical development for pulmonary arterial hypertension, with additional research efforts aimed at other cardiovascular and respiratory conditions.

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