Elutia (NASDAQ:ELUT) CEO C Randal Mills Buys 13,500 Shares

Elutia Inc. (NASDAQ:ELUT) CEO C Randal Mills purchased 13,500 shares of Elutia stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $0.75 per share, for a total transaction of $10,125.00. Following the completion of the acquisition, the chief executive officer owned 353,785 shares of the company’s stock, valued at approximately $265,338.75. This trade represents a 3.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Elutia Stock Performance

Elutia stock traded up $0.00 during mid-day trading on Friday, hitting $0.75. The company’s stock had a trading volume of 488,984 shares, compared to its average volume of 102,372. The stock has a market cap of $31.61 million, a PE ratio of -0.70 and a beta of 0.78. Elutia Inc. has a one year low of $0.69 and a one year high of $5.12. The company has a 50 day moving average of $0.98 and a 200-day moving average of $1.64.

Elutia (NASDAQ:ELUT) last issued its earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.15. The business had revenue of $3.32 million for the quarter, compared to the consensus estimate of $6.65 million. On average, equities research analysts forecast that Elutia Inc. will post -1.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Lake Street Capital reduced their price target on Elutia from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Elutia to a “sell” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Elutia presently has an average rating of “Hold” and an average target price of $7.00.

Institutional Investors Weigh In On Elutia

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in shares of Elutia during the 3rd quarter valued at approximately $26,000. OMERS ADMINISTRATION Corp purchased a new stake in Elutia during the 1st quarter valued at about $28,000. XTX Topco Ltd acquired a new stake in Elutia in the 2nd quarter valued at about $28,000. Jane Street Group LLC purchased a new position in Elutia in the 1st quarter worth approximately $48,000. Finally, Arcus Capital Partners LLC boosted its holdings in shares of Elutia by 50.3% during the 2nd quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock worth $59,000 after purchasing an additional 10,050 shares during 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.