Knollwood Investment Advisory LLC increased its holdings in Elutia Inc. (NASDAQ:ELUT – Free Report) by 147.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,556,724 shares of the company’s stock after acquiring an additional 1,525,157 shares during the quarter. Knollwood Investment Advisory LLC owned about 5.99% of Elutia worth $1,771,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELUT. Deerfield Management Company L.P. purchased a new stake in Elutia in the third quarter worth $1,221,000. Citadel Advisors LLC purchased a new stake in Elutia in the third quarter worth $50,000. Rossmore Private Capital purchased a new stake in Elutia in the fourth quarter worth $35,000. Renaissance Technologies LLC lifted its stake in Elutia by 64.7% in the fourth quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock worth $71,000 after acquiring an additional 40,123 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Elutia in the fourth quarter worth $25,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.
Elutia Trading Up 0.4%
ELUT opened at $0.96 on Friday. The stock has a fifty day simple moving average of $1.08 and a two-hundred day simple moving average of $0.95. The company has a market cap of $41.07 million, a price-to-earnings ratio of 1.12 and a beta of 0.80. Elutia Inc. has a 12-month low of $0.50 and a 12-month high of $2.64.
Wall Street Analyst Weigh In
A number of brokerages recently commented on ELUT. Weiss Ratings raised Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 10th. Wall Street Zen raised Elutia from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.
Check Out Our Latest Stock Report on Elutia
Elutia Company Profile
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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