Elutia Inc. (NASDAQ:ELUT) Short Interest Up 6.8% in April

Elutia Inc. (NASDAQ:ELUTGet Free Report) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 25,300 shares, an increase of 6.8% from the April 15th total of 23,700 shares. Based on an average daily volume of 15,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.2% of the company’s shares are sold short.

Elutia Trading Up 2.8 %

Shares of ELUT stock opened at $3.31 on Friday. Elutia has a fifty-two week low of $1.10 and a fifty-two week high of $4.19. The stock has a 50 day moving average price of $3.06 and a two-hundred day moving average price of $2.83.

Elutia (NASDAQ:ELUTGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.75) earnings per share for the quarter. The business had revenue of $6.69 million for the quarter. On average, analysts predict that Elutia will post -1.38 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Elutia stock. Verdence Capital Advisors LLC bought a new stake in shares of Elutia Inc. (NASDAQ:ELUTFree Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,410 shares of the company’s stock, valued at approximately $45,000. Verdence Capital Advisors LLC owned approximately 0.06% of Elutia as of its most recent SEC filing. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald cut their price target on shares of Elutia from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, May 10th.

Read Our Latest Research Report on Elutia

About Elutia

(Get Free Report)

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.

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