Elutia Inc. (NASDAQ:ELUT) Short Interest Up 37.4% in March

Elutia Inc. (NASDAQ:ELUT) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 65,000 shares, an increase of 37.4% from the March 15th total of 47,300 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 42,600 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 price target on shares of Elutia in a report on Friday, March 7th.

Elutia Trading Up 10.5 %

NASDAQ ELUT opened at $2.32 on Friday. The stock has a 50-day moving average of $2.80 and a 200-day moving average of $3.35. Elutia has a 1-year low of $1.87 and a 1-year high of $5.24. The firm has a market cap of $94.51 million, a PE ratio of -0.89 and a beta of 0.96.

Insider Buying and Selling at Elutia

In other Elutia news, Director Highcape Capital, L.P. purchased 420,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $2.50 per share, with a total value of $1,050,000.00. Following the completion of the transaction, the director now directly owns 9,520,232 shares in the company, valued at approximately $23,800,580. This trade represents a 4.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 27.60% of the stock is owned by corporate insiders.

Institutional Trading of Elutia

A number of institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC raised its position in Elutia by 22.5% during the 4th quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company’s stock valued at $11,499,000 after purchasing an additional 564,233 shares during the last quarter. Silverarc Capital Management LLC lifted its stake in Elutia by 8.3% in the fourth quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock worth $6,666,000 after acquiring an additional 136,463 shares during the period. Geode Capital Management LLC boosted its holdings in Elutia by 50.3% in the third quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after acquiring an additional 63,047 shares in the last quarter. 683 Capital Management LLC purchased a new position in Elutia during the 4th quarter valued at $302,000. Finally, Millennium Management LLC raised its holdings in Elutia by 16.4% in the 4th quarter. Millennium Management LLC now owns 45,217 shares of the company’s stock worth $169,000 after purchasing an additional 6,386 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Elutia Company Profile

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.