Elutia (NASDAQ:ELUT) Price Target Raised to $11.00 at Cantor Fitzgerald

Elutia (NASDAQ:ELUT) had its price objective increased by equities research analysts at Cantor Fitzgerald from $5.00 to $11.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 236.39% from the stock’s current price.

Elutia Stock Up 2.8 %

Elutia stock traded up $0.09 during mid-day trading on Tuesday, hitting $3.27. 289,036 shares of the company’s stock traded hands, compared to its average volume of 28,012. Elutia has a one year low of $1.10 and a one year high of $4.39. The firm has a 50 day moving average price of $3.17 and a 200 day moving average price of $3.13. The company has a market cap of $79.36 million, a PE ratio of -1.38 and a beta of 0.61.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.75) earnings per share for the quarter. The company had revenue of $6.69 million during the quarter. On average, analysts expect that Elutia will post -1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elutia

An institutional investor recently bought a new position in Elutia stock. Perkins Capital Management Inc. acquired a new stake in shares of Elutia Inc. (NASDAQ:ELUT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 797,602 shares of the company’s stock, valued at approximately $2,512,000. Elutia accounts for 2.1% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Perkins Capital Management Inc. owned approximately 3.29% of Elutia as of its most recent filing with the Securities and Exchange Commission (SEC). 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.