Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 108,600 shares, an increase of 1,408.3% from the June 15th total of 7,200 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 54,900 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Investors Weigh In On Elutia

An institutional investor recently bought a new position in Elutia stock. Verdence Capital Advisors LLC purchased a new stake in shares of Elutia Inc. (NASDAQ:ELUT) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,410 shares of the company’s stock, valued at approximately $45,000. Verdence Capital Advisors LLC owned approximately 0.06% of Elutia at the end of the most recent quarter. 74.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ELUT has been the topic of several research reports. Cantor Fitzgerald upped their price objective on shares of Elutia from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Lake Street Capital upped their price objective on shares of Elutia from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, June 21st.

Elutia Trading Up 2.9 %

ELUT stock traded up $0.13 during midday trading on Thursday, hitting $4.63. The company had a trading volume of 33,900 shares, compared to its average volume of 39,192. The stock’s 50 day moving average price is $3.59 and its 200 day moving average price is $3.37. Elutia has a 52 week low of $1.10 and a 52 week high of $5.24. The stock has a market cap of $112.37 million, a price-to-earnings ratio of -1.95 and a beta of 0.72.

Elutia (NASDAQ:ELUT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.75) earnings per share (EPS) for the quarter. The firm had revenue of $6.69 million for the quarter. Analysts predict that Elutia will post -1.37 earnings per share for the current year.

About Elutia

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.