Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 108,200 shares, an increase of 7.4% from the September 30th total of 100,700 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 48,700 shares, the days-to-cover ratio is currently 2.2 days.

Hedge Funds Weigh In On Elutia

Several institutional investors have recently bought and sold shares of ELUT. AIGH Capital Management LLC lifted its position in shares of Elutia by 288.8% during the second quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock worth $8,419,000 after acquiring an additional 1,260,750 shares in the last quarter. Nantahala Capital Management LLC lifted its position in shares of Elutia by 8.8% during the second quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock worth $8,907,000 after acquiring an additional 145,697 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Elutia by 50.5% during the second quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after acquiring an additional 18,000 shares in the last quarter. Perkins Capital Management Inc. lifted its position in shares of Elutia by 9.8% during the third quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock worth $3,263,000 after acquiring an additional 76,450 shares in the last quarter. Finally, Arcus Capital Partners LLC purchased a new stake in shares of Elutia during the second quarter worth $50,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Elutia in a report on Friday, September 6th.

Elutia Stock Up 0.9 %

ELUT stock opened at $3.20 on Friday. The business has a 50 day moving average of $3.81 and a 200-day moving average of $3.62. Elutia has a 12-month low of $1.17 and a 12-month high of $5.24.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($1.14) EPS for the quarter. The company had revenue of $6.29 million during the quarter. As a group, analysts expect that Elutia will post -3.06 EPS for the current year.

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.