Kevin Rakin Buys 70,000 Shares of Elutia (NASDAQ:ELUT) Stock

Elutia Inc. (NASDAQ:ELUT) Director Kevin Rakin bought 70,000 shares of the stock in a transaction dated Friday, January 30th. The shares were acquired at an average cost of $1.06 per share, for a total transaction of $74,200.00. Following the completion of the acquisition, the director directly owned 196,120 shares of the company’s stock, valued at approximately $207,887.20. This trade represents a 55.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kevin Rakin also recently made the following trade(s):

• On Wednesday, December 17th, Kevin Rakin purchased 50,000 shares of Elutia stock. The stock was bought at an average price of $0.52 per share, with a total value of $26,000.00.

Elutia Price Performance

NASDAQ:ELUT traded down $0.03 during trading hours on Monday, reaching $1.02. 226,475 shares of the company were exchanged, compared to its average volume of 378,687. The business has a 50 day moving average of $0.71 and a 200 day moving average of $1.16. Elutia Inc. has a 1-year low of $0.50 and a 1-year high of $3.46. The company has a market capitalization of $43.56 million, a P/E ratio of -1.11 and a beta of 0.62.

Elutia (NASDAQ:ELUT) last released its 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 company had revenue of $3.32 million for the quarter, compared to the consensus estimate of $6.65 million. As a group, equities research analysts anticipate that Elutia Inc. will post -1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ELUT. Jane Street Group LLC bought a new stake in Elutia during the 1st quarter worth $48,000. Arcus Capital Partners LLC grew its holdings in shares of Elutia by 50.3% during 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 during the last quarter. AIGH Capital Management LLC increased its stake in shares of Elutia by 2.1% in the second quarter. AIGH Capital Management LLC now owns 3,451,025 shares of the company’s stock valued at $6,833,000 after buying an additional 69,610 shares during the period. XTX Topco Ltd bought a new position in Elutia in the 2nd quarter valued at approximately $28,000. Finally, Deerfield Management Company L.P. bought a new position in Elutia in the 3rd quarter valued at approximately $1,221,000. 74.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ELUT shares. Wall Street Zen raised shares of Elutia to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Elutia presently has a consensus rating of “Hold” and a consensus target price of $7.00.

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.