Elutia Inc. (NASDAQ:ELUT) Short Interest Update

Elutia Inc. (NASDAQ:ELUT) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 108,200 shares, a growth of 7.4% from the September 30th total of 100,700 shares. Based on an average trading volume of 48,700 shares, the short-interest ratio is presently 2.2 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arcus Capital Partners LLC acquired a new position in Elutia during the 2nd quarter worth about $50,000. Renaissance Technologies LLC lifted its holdings 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 buying an additional 18,000 shares during the period. Perkins Capital Management Inc. lifted its stake in shares of Elutia by 9.8% in the 3rd quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock valued at $3,263,000 after purchasing an additional 76,450 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Elutia by 8.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock valued at $8,907,000 after purchasing an additional 145,697 shares during the period. Finally, AIGH Capital Management LLC lifted its stake in shares of Elutia by 288.8% in the 2nd 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 period. 74.03% of the stock is owned by institutional investors and hedge funds.

Elutia Stock Performance

Shares of ELUT stock opened at $3.20 on Friday. Elutia has a twelve month low of $1.17 and a twelve month high of $5.24. The stock’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.62.

Elutia (NASDAQ:ELUT) last announced its earnings results on Wednesday, August 7th. The company reported ($1.14) EPS for the quarter. The business had revenue of $6.29 million during the quarter. On average, equities analysts anticipate that Elutia will post -3.06 EPS for the current year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Elutia in a research report on Friday, September 6th.

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.