Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 52,925 shares, an increase of 106.2% from the June 15th total of 25,665 shares. Based on an average trading volume of 82,561 shares, the short-interest ratio is currently 0.6 days. Currently, 0.2% of the company’s shares are short sold.

Elutia Price Performance

Shares of ELUT stock remained flat at $0.95 during mid-day trading on Friday. The company’s stock had a trading volume of 251,427 shares, compared to its average volume of 167,620. Elutia has a 12 month low of $0.50 and a 12 month high of $2.50. The company has a market capitalization of $40.64 million, a PE ratio of 1.10 and a beta of 0.85. The firm’s 50-day moving average price is $1.02 and its two-hundred day moving average price is $1.01.

Elutia (NASDAQ:ELUT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The company had revenue of $3.11 million during the quarter, compared to analysts’ expectations of $3.00 million.

Analysts Set New Price Targets

Several brokerages have commented on ELUT. Wall Street Zen raised shares of Elutia from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Weiss Ratings raised shares of Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Elutia has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Institutional Trading of Elutia

Several institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Elutia during the 4th quarter worth $25,000. Virtu Financial LLC purchased a new stake in shares of Elutia in the third quarter valued at about $26,000. XTX Topco Ltd purchased a new stake in shares of Elutia in the second quarter valued at about $28,000. Rossmore Private Capital acquired a new stake in shares of Elutia during the fourth quarter worth about $35,000. Finally, Jane Street Group LLC purchased a new position in shares of Elutia during the first quarter worth about $48,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

About Elutia

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.