Brigid Makes Buys 25,000 Shares of Elutia (NASDAQ:ELUT) Stock

Elutia Inc. (NASDAQ:ELUT) Director Brigid Makes bought 25,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were acquired at an average cost of $0.52 per share, with a total value of $13,000.00. Following the completion of the purchase, the director owned 27,000 shares in the company, valued at $14,040. This represents a 1,250.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Elutia Stock Performance

Shares of ELUT stock opened at $0.59 on Friday. The company has a market capitalization of $25.04 million, a P/E ratio of -0.64 and a beta of 0.63. Elutia Inc. has a 52 week low of $0.50 and a 52 week high of $4.84. The company’s 50 day moving average price is $0.76 and its two-hundred day moving average price is $1.43.

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

Hedge Funds Weigh In On Elutia

Several hedge funds have recently modified their holdings of ELUT. Virtu Financial LLC bought a new stake in Elutia during the third quarter worth about $26,000. XTX Topco Ltd bought a new position in Elutia in the second quarter valued at approximately $28,000. OMERS ADMINISTRATION Corp bought a new position in Elutia in the first quarter valued at approximately $28,000. Jane Street Group LLC acquired a new position in shares of Elutia during the 1st quarter worth approximately $48,000. Finally, Citadel Advisors LLC bought a new stake in shares of Elutia during the 3rd quarter worth approximately $50,000. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elutia Company Profile

Elutia, Inc is a biopharmaceutical company focused on the development of novel nitric oxide therapies based on its proprietary polymeric nitric oxide platform. This technology is designed to enable sustained, controlled release of nitric oxide to targeted tissues, potentially overcoming the delivery challenges associated with gaseous nitric oxide and small‐molecule donors.

The company’s lead program is in preclinical development for pulmonary arterial hypertension, with additional research efforts aimed at other cardiovascular and respiratory conditions.