Elutia Inc. (NASDAQ:ELUT) Stock Short Interest Report for October

Elutia Inc. (NASDAQ:ELUT) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 15,326 shares, a growth of 63.8% from the September 30th total of 9,359 shares. Based on an average trading volume of 788,498 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Elutia Trading Down 1.0%

Shares of ELUT opened at $0.81 on Wednesday. Elutia has a twelve month low of $0.50 and a twelve month high of $1.39. The business’s 50-day moving average price is $0.83 and its 200-day moving average price is $0.97.

Elutia (NASDAQ:ELUT) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The firm had revenue of $2.43 million during the quarter, compared to the consensus estimate of $2.90 million. Elutia had a net margin of 426.93% and a negative return on equity of 407.37%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Elutia from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Elutia stock. Rossmore Private Capital increased its holdings in Elutia Inc. (NASDAQ:ELUT) by 140.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,000 shares of the company’s stock after buying an additional 70,000 shares during the period. Rossmore Private Capital owned 0.28% of Elutia worth $126,000 as of its most recent SEC filing. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Elutia Company Profile

Elutia Inc is a medical technology company focused on developing and commercializing biologic products designed to support tissue healing and improve the performance of implantable medical devices. The company combines human tissue-based materials with drug-delivery and regenerative medicine technologies.

Its product portfolio includes biologic envelopes used to protect and support cardiac implantable electronic devices, including pacemakers and defibrillators. Elutia also develops tissue matrices and other biologic products for orthopedic, wound care and related surgical applications, with products intended to support soft-tissue repair, reconstruction and healing.

The company was formerly known as Aziyo Biologics and adopted the Elutia name as part of its broader focus on bioelectronic medicine and regenerative healthcare.