Elutia Inc. (NASDAQ:ELUT) Short Interest Down 17.2% in February

Elutia Inc. (NASDAQ:ELUT) saw a significant decline in short interest in February. As of February 13th, there was short interest totaling 133,959 shares, a decline of 17.2% from the January 29th total of 161,769 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 151,978 shares, the short-interest ratio is presently 0.9 days. Based on an average daily volume of 151,978 shares, the short-interest ratio is presently 0.9 days. Currently, 0.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

ELUT has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, January 21st. Wall Street Zen raised 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 assigned a Sell rating to the stock. According to MarketBeat, Elutia has an average rating of “Hold” and an average target price of $7.00.

Elutia Trading Up 6.6%

Shares of NASDAQ:ELUT traded up $0.08 on Wednesday, reaching $1.30. 266,359 shares of the company’s stock were exchanged, compared to its average volume of 272,695. Elutia has a twelve month low of $0.50 and a twelve month high of $3.46. The company has a fifty day moving average of $0.90 and a 200-day moving average of $1.01. The company has a market capitalization of $55.51 million, a price-to-earnings ratio of -1.41 and a beta of 0.65.

Insider Transactions at Elutia

In other news, Director Kevin Rakin acquired 70,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The stock was acquired at an average cost of $1.06 per share, for a total transaction of $74,200.00. Following the completion of the acquisition, the director owned 196,120 shares in the company, valued at $207,887.20. This represents a 55.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Ferguson bought 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average cost of $0.53 per share, for a total transaction of $31,800.00. Following the transaction, the chief financial officer owned 447,110 shares in the company, valued at $236,968.30. The trade was a 15.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 255,500 shares of company stock worth $189,605. Corporate insiders own 27.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ELUT. Deerfield Management Company L.P. acquired a new position in shares of Elutia in the 3rd quarter valued at approximately $1,221,000. XTX Topco Ltd acquired a new stake in shares of Elutia in the 4th quarter valued at $71,000. Renaissance Technologies LLC raised its holdings in shares of Elutia by 64.7% during the 4th quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock worth $71,000 after buying an additional 40,123 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Elutia during the 3rd quarter worth $50,000. Finally, Jane Street Group LLC acquired a new stake in Elutia in the first quarter valued at about $48,000. Institutional investors own 74.03% of the company’s stock.

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.