Guido Neels Buys 15,000 Shares of Elutia (NASDAQ:ELUT) Stock

Elutia Inc. (NASDAQ:ELUT) Director Guido Neels acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was purchased at an average cost of $1.06 per share, with a total value of $15,900.00. Following the completion of the acquisition, the director owned 83,750 shares of the company’s stock, valued at $88,775. The trade was a 21.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Elutia Price Performance

NASDAQ:ELUT opened at $1.05 on Friday. The company has a market cap of $44.84 million, a PE ratio of -1.14 and a beta of 0.62. The business’s 50 day moving average is $0.71 and its two-hundred day moving average is $1.17. Elutia Inc. has a 52 week low of $0.50 and a 52 week high of $3.46.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $3.32 million during the quarter, compared to the consensus estimate of $6.65 million. As a group, sell-side analysts expect that Elutia Inc. will post -1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, January 21st. Wall Street Zen upgraded Elutia to a “sell” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.00.

Institutional Investors Weigh In On Elutia

A number of hedge funds have recently made changes to their positions in ELUT. AIGH Capital Management LLC grew its holdings in Elutia by 2.1% in the 2nd quarter. AIGH Capital Management LLC now owns 3,451,025 shares of the company’s stock worth $6,833,000 after buying an additional 69,610 shares in the last quarter. Deerfield Management Company L.P. bought a new stake in Elutia during the 3rd quarter valued at $1,221,000. Citadel Advisors LLC acquired a new position in Elutia during the 3rd quarter worth $50,000. FNY Investment Advisers LLC bought a new position in shares of Elutia in the fourth quarter worth $25,000. Finally, Arcus Capital Partners LLC grew its stake in shares of Elutia by 50.3% in the second 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 in the last quarter. 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.