C Randal Mills Acquires 13,500 Shares of Elutia (NASDAQ:ELUT) Stock

Elutia Inc. (NASDAQ:ELUT) CEO C Randal Mills purchased 13,500 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $0.75 per share, for a total transaction of $10,125.00. Following the completion of the transaction, the chief executive officer directly owned 353,785 shares in the company, valued at $265,338.75. This trade represents a 3.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Elutia Price Performance

NASDAQ ELUT traded up $0.00 during trading on Friday, reaching $0.75. 488,984 shares of the company’s stock were exchanged, compared to its average volume of 102,372. The stock has a market capitalization of $31.61 million, a P/E ratio of -0.70 and a beta of 0.78. The business has a 50 day moving average price of $1.01 and a 200-day moving average price of $1.65. Elutia Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $5.12.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $3.32 million during the quarter, compared to analyst estimates of $6.65 million. On average, analysts forecast that Elutia Inc. will post -1.74 earnings per share for the current year.

Institutional Trading of Elutia

A number of hedge funds and other institutional investors have recently made changes to their positions in ELUT. OMERS ADMINISTRATION Corp acquired a new stake in Elutia during the 1st quarter worth approximately $28,000. XTX Topco Ltd acquired a new stake in shares of Elutia in the 2nd quarter worth $28,000. Jane Street Group LLC purchased a new position in shares of Elutia during the 1st quarter worth approximately $48,000. Arcus Capital Partners LLC grew its stake in shares of Elutia by 50.3% during the 2nd quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock worth $59,000 after purchasing an additional 10,050 shares during the period. Finally, Deerfield Management Company L.P. acquired a new stake in shares of Elutia in the 3rd quarter worth approximately $1,221,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ELUT shares. Wall Street Zen raised Elutia to a “sell” rating in a report on Saturday, November 8th. Lake Street Capital dropped their price target on shares of Elutia from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Elutia has a consensus rating of “Hold” and an average price target of $7.00.

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.