Elutia (NASDAQ:ELUT) Stock Price Breaks Above 50 Day Moving Average – Time to Sell?

Elutia Inc. (NASDAQ:ELUT)’s stock price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $0.83 and traded as high as $0.86. Elutia shares last traded at $0.8371, with a volume of 138,308 shares changing hands.

Analyst Ratings Changes

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

Elutia Stock Up 2.9%

The stock has a market cap of $37.08 million, a P/E ratio of 0.88 and a beta of 0.84. The business’s 50-day simple moving average is $0.83 and its two-hundred day simple moving average is $0.97.

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

Institutional Investors Weigh In On Elutia

An institutional investor recently raised its position in Elutia stock. AIGH Capital Management LLC raised its holdings in shares of Elutia Inc. (NASDAQ:ELUT) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,595,250 shares of the company’s stock after acquiring an additional 527,065 shares during the quarter. Elutia makes up 0.5% of AIGH Capital Management LLC’s portfolio, making the stock its 27th largest holding. AIGH Capital Management LLC owned 8.40% of Elutia worth $3,775,000 as of its most recent SEC filing. Institutional investors and hedge funds own 74.03% of the company’s stock.

About Elutia

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.