Insider Buying: Elutia (NASDAQ:ELUT) Director Purchases $11,470.00 in Stock

Elutia Inc. (NASDAQ:ELUT) Director David Colpman acquired 15,500 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $0.74 per share, for a total transaction of $11,470.00. Following the transaction, the director owned 18,598 shares of the company’s stock, valued at approximately $13,762.52. This represents a 500.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Elutia Trading Down 4.0%

ELUT opened at $0.59 on Friday. Elutia Inc. has a 1-year low of $0.58 and a 1-year high of $5.12. The business has a 50 day moving average of $0.90 and a 200-day moving average of $1.59. The stock has a market capitalization of $25.02 million, a price-to-earnings ratio of -0.56 and a beta of 0.78.

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

Hedge Funds Weigh In On Elutia

A number of large investors have recently bought and sold shares of ELUT. AIGH Capital Management LLC grew its stake in shares of Elutia by 10.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,381,415 shares of the company’s stock worth $8,555,000 after acquiring an additional 306,740 shares in the last quarter. Perkins Capital Management Inc. boosted its holdings in Elutia by 32.1% during the first quarter. Perkins Capital Management Inc. now owns 1,136,377 shares of the company’s stock worth $2,875,000 after purchasing an additional 276,300 shares during the last quarter. Knollwood Investment Advisory LLC grew its position in Elutia by 10.7% in the first quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company’s stock valued at $2,618,000 after purchasing an additional 100,000 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Elutia in the 1st quarter valued at $28,000. Finally, Nantahala Capital Management LLC increased its stake in Elutia by 11.2% in the 1st quarter. Nantahala Capital Management LLC now owns 3,184,947 shares of the company’s stock valued at $8,058,000 after buying an additional 320,000 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ELUT. Weiss Ratings reissued a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Lake Street Capital decreased their price objective on Elutia from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Finally, Wall Street Zen upgraded shares of Elutia to a “sell” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.00.

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.