Elutia Inc. (NASDAQ:ELUT) Short Interest Up 112.2% in December

Elutia Inc. (NASDAQ:ELUT) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 183,007 shares, a growth of 112.2% from the December 15th total of 86,257 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 829,884 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 829,884 shares, the short-interest ratio is currently 0.2 days. Approximately 0.6% of the shares of the stock are short sold.

Elutia Stock Performance

Shares of ELUT traded down $0.05 on Thursday, hitting $0.79. 98,302 shares of the stock traded hands, compared to its average volume of 390,160. The company has a market capitalization of $33.78 million, a PE ratio of -0.86 and a beta of 0.62. Elutia has a one year low of $0.50 and a one year high of $3.46. The business has a 50 day simple moving average of $0.67 and a 200 day simple moving average of $1.27.

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

Analyst Ratings Changes

Several research analysts have recently commented on ELUT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a report on Wednesday, October 8th. Wall Street Zen upgraded 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.com, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

Insider Activity

In other Elutia news, Director Kevin Rakin bought 50,000 shares of Elutia stock in a transaction that occurred on Wednesday, December 17th. The stock was acquired at an average cost of $0.52 per share, for a total transaction of $26,000.00. Following the completion of the transaction, the director directly owned 322,419 shares in the company, valued at $167,657.88. This represents a 18.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew Ferguson acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was bought at an average price of $0.53 per share, for a total transaction of $31,800.00. Following the completion of the transaction, the chief financial officer owned 447,110 shares of the company’s stock, valued at $236,968.30. The trade was a 15.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 194,500 shares of company stock valued at $109,910. 27.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elutia

Several large investors have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. purchased a new position in shares of Elutia in the third quarter valued at about $1,221,000. AIGH Capital Management LLC lifted 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 purchasing an additional 69,610 shares in the last quarter. Citadel Advisors LLC bought a new position in Elutia in the 3rd quarter worth approximately $50,000. Virtu Financial LLC purchased a new stake in Elutia during the 3rd quarter valued at approximately $26,000. Finally, Jane Street Group LLC purchased a new position in shares of Elutia in the first quarter worth $48,000. Hedge funds and other 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.