Insider Buying: Elutia (NASDAQ:ELUT) CFO Acquires 60,000 Shares of Stock

Elutia Inc. (NASDAQ:ELUT) CFO Matthew Ferguson purchased 60,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were purchased at an average cost of $0.53 per share, with a total value of $31,800.00. Following the completion of the purchase, the chief financial officer owned 447,110 shares in the company, valued at $236,968.30. This represents a 15.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matthew Ferguson also recently made the following trade(s):

• On Tuesday, December 2nd, Matthew Ferguson purchased 5,500 shares of Elutia stock. The stock was acquired at an average price of $0.67 per share, for a total transaction of $3,685.00.
• On Monday, December 1st, Matthew Ferguson acquired 4,500 shares of Elutia stock. The shares were acquired at an average price of $0.65 per share, with a total value of $2,925.00.

Elutia Trading Up 7.3%

Shares of ELUT opened at $0.54 on Thursday. Elutia Inc. has a 1-year low of $0.50 and a 1-year high of $4.84. The stock has a market capitalization of $23.14 million, a P/E ratio of -0.57 and a beta of 0.63. The business’s 50-day moving average price is $0.78 and its 200 day moving average price is $1.44.

Elutia (NASDAQ:ELUT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $3.32 million for the quarter, compared to analyst estimates of $6.65 million. On average, research analysts predict that Elutia Inc. will post -1.74 earnings per share for the current year.

Institutional Trading of Elutia

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Elutia in the third quarter valued at $26,000. XTX Topco Ltd bought a new stake in Elutia during the 2nd quarter worth about $28,000. OMERS ADMINISTRATION Corp acquired a new stake in Elutia in the 1st quarter valued at about $28,000. Jane Street Group LLC acquired a new stake in Elutia in the 1st quarter valued at about $48,000. Finally, Citadel Advisors LLC acquired a new position in shares of Elutia during the third quarter worth approximately $50,000. Institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ELUT shares. Wall Street Zen upgraded Elutia to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Finally, Lake Street Capital cut their target price on shares of Elutia from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

About Elutia

Elutia Inc, a commercial-stage company, develops and commercializes drug-eluting biologics products for neurostimulation, wound care, and breast reconstruction in the United States. The company operates in three segments: Device Protection; Women's Health; and Cardiovascular. It offers CanGaroo Envelope, which is used to accommodate cardiac implantable electronic devices, such as pacemakers and internal defibrillators.