Short Interest in Elutia Inc. (NASDAQ:ELUT) Increases By 29.8%

Elutia Inc. (NASDAQ:ELUT) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 67,000 shares, a growth of 29.8% from the December 31st total of 51,600 shares. Based on an average daily volume of 40,300 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted 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 during the period. Arcus Capital Partners LLC lifted its holdings in Elutia by 100.0% in the third quarter. Arcus Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $76,000 after acquiring an additional 10,000 shares during the period. Perkins Capital Management Inc. increased its position in shares of Elutia by 9.8% in the third quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock valued at $3,263,000 after buying an additional 76,450 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Elutia by 50.5% in the second quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock valued at $266,000 after buying an additional 18,000 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Elutia in a report on Friday, November 15th.

Elutia Price Performance

Shares of NASDAQ:ELUT opened at $3.22 on Monday. Elutia has a 12-month low of $2.28 and a 12-month high of $5.24. The business has a 50 day moving average of $3.75 and a two-hundred day moving average of $3.74.

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.