Elutia (NASDAQ:ELUT) PT Lowered to $5.00 at Cantor Fitzgerald

Elutia (NASDAQ:ELUT) had its target price reduced by equities researchers at Cantor Fitzgerald from $6.00 to $5.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 70.65% from the company’s current price.

Elutia Stock Up 4.6 %

ELUT stock traded up $0.13 during midday trading on Friday, reaching $2.93. The stock had a trading volume of 15,836 shares, compared to its average volume of 20,297. Elutia has a twelve month low of $1.10 and a twelve month high of $4.19. The firm has a market cap of $71.12 million, a price-to-earnings ratio of -1.39 and a beta of 0.56. The business has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $2.75.

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. On average, equities analysts predict that Elutia will post -1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elutia

An institutional investor recently bought a new position in Elutia stock. Perkins Capital Management Inc. purchased a new stake in Elutia Inc. (NASDAQ:ELUT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 797,602 shares of the company’s stock, valued at approximately $2,512,000. Elutia comprises 2.1% of Perkins Capital Management Inc.’s holdings, making the stock its 12th largest holding. Perkins Capital Management Inc. owned 3.29% of Elutia at the end of the most recent reporting period. 74.03% of the stock is owned by hedge funds and other institutional investors.

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.