Elutia (NASDAQ:ELUT) Receives Overweight Rating from Cantor Fitzgerald

Elutia (NASDAQ:ELUT)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 140.96% from the stock’s current price.

Separately, Lake Street Capital lifted their price target on Elutia from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, June 21st.

Elutia Stock Up 2.7 %

Shares of ELUT stock traded up $0.11 during trading on Friday, hitting $4.15. The company had a trading volume of 1,566 shares, compared to its average volume of 43,213. The stock’s 50-day moving average is $3.90 and its two-hundred day moving average is $3.48. The stock has a market capitalization of $100.73 million, a price-to-earnings ratio of -1.75 and a beta of 0.72. Elutia has a 52 week low of $1.10 and a 52 week high of $5.24.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($1.14) EPS for the quarter. The firm had revenue of $6.29 million for the quarter. On average, research analysts predict that Elutia will post -3.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Elutia

A number of large investors have recently added to or reduced their stakes in the business. Arcus Capital Partners LLC purchased a new stake in Elutia during the second quarter valued at about $50,000. Verdence Capital Advisors LLC purchased a new stake in Elutia during the 1st quarter valued at about $45,000. Renaissance Technologies LLC grew its position in Elutia by 50.5% during the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after acquiring an additional 18,000 shares during the last quarter. Perkins Capital Management Inc. purchased a new position in Elutia in the 1st quarter worth approximately $2,512,000. Finally, AIGH Capital Management LLC lifted its position in Elutia by 288.8% in the second quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock valued at $8,419,000 after purchasing an additional 1,260,750 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

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.