Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 42,627 shares, a drop of 69.9% from the May 14th total of 141,552 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 104,439 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Elutia

Hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Elutia during the 4th quarter valued at about $25,000. Virtu Financial LLC acquired a new position in shares of Elutia in the 3rd quarter valued at about $26,000. XTX Topco Ltd acquired a new position in shares of Elutia in the 2nd quarter valued at about $28,000. Rossmore Private Capital acquired a new position in shares of Elutia in the 4th quarter valued at about $35,000. Finally, Jane Street Group LLC acquired a new position in shares of Elutia in the 1st quarter valued at about $48,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELUT has been the topic of a number of recent research reports. Wall Street Zen upgraded Elutia from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings upgraded Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Elutia Trading Up 0.4%

NASDAQ:ELUT traded up $0.00 during mid-day trading on Friday, reaching $0.96. 79,480 shares of the stock were exchanged, compared to its average volume of 106,711. The business has a fifty day moving average price of $1.08 and a 200 day moving average price of $0.95. The firm has a market capitalization of $41.07 million, a PE ratio of 1.12 and a beta of 0.80. Elutia has a 1-year low of $0.50 and a 1-year high of $2.64.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $3.11 million for the quarter, compared to analyst estimates of $3.00 million.

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.