Elutia Inc. (NASDAQ:ELUT – Get Free Report) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 16,949 shares, a decrease of 34.5% from the August 15th total of 25,859 shares. Based on an average daily trading volume, of 72,592 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the stock are short sold.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC grew its holdings in shares of Elutia by 17.2% during the 1st quarter. AIGH Capital Management LLC now owns 3,595,250 shares of the company’s stock worth $3,775,000 after purchasing an additional 527,065 shares during the period. Knollwood Investment Advisory LLC raised its holdings in Elutia by 147.8% in the fourth quarter. Knollwood Investment Advisory LLC now owns 2,556,724 shares of the company’s stock valued at $1,771,000 after buying an additional 1,525,157 shares during the period. Finally, Rossmore Private Capital lifted its position in Elutia by 140.0% during the first quarter. Rossmore Private Capital now owns 120,000 shares of the company’s stock valued at $126,000 after buying an additional 70,000 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.
Elutia Stock Up 5.8%
Shares of Elutia stock traded up $0.05 during trading on Thursday, hitting $0.86. 74,850 shares of the company were exchanged, compared to its average volume of 139,470. Elutia has a fifty-two week low of $0.50 and a fifty-two week high of $1.39. The firm has a 50 day moving average price of $0.89 and a 200 day moving average price of $1.01. The stock has a market capitalization of $37.96 million, a price-to-earnings ratio of 0.90 and a beta of 0.88.
Analysts Set New Price Targets
Separately, Weiss Ratings downgraded shares of Elutia from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.
Get Our Latest Stock Report on ELUT
Elutia Company Profile
Elutia Inc (NASDAQ: ELUT) is a medical technology company focused on developing and commercializing biologic and drug-eluting products for regenerative medicine and implantable medical devices. Its technologies are designed to support tissue healing, improve the performance of implanted devices and address clinical needs in areas including cardiac care and orthopedics.
The company’s product portfolio has included the CanGaroo family of biologic envelopes, which are used to help manage and protect implantable electronic devices such as pacemakers and defibrillators.
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