Knollwood Investment Advisory LLC Buys 1,525,157 Shares of Elutia Inc. $ELUT

Knollwood Investment Advisory LLC grew its stake in shares of Elutia Inc. (NASDAQ:ELUT) by 147.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,556,724 shares of the company’s stock after acquiring an additional 1,525,157 shares during the quarter. Knollwood Investment Advisory LLC owned about 0.06% of Elutia worth $1,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in shares of Elutia by 64.7% during the fourth quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock valued at $71,000 after acquiring an additional 40,123 shares in the last quarter. Rossmore Private Capital bought a new position in shares of Elutia during the fourth quarter valued at $35,000. FNY Investment Advisers LLC bought a new position in shares of Elutia during the fourth quarter valued at $25,000. Citadel Advisors LLC bought a new position in shares of Elutia during the third quarter valued at $50,000. Finally, Virtu Financial LLC bought a new position in shares of Elutia during the third quarter valued at $26,000. 74.03% of the stock is currently owned by institutional investors.

Elutia Price Performance

Elutia stock opened at $0.96 on Friday. Elutia Inc. has a one year low of $0.50 and a one year high of $2.64. The stock has a market capitalization of $41.07 million, a PE ratio of 1.12 and a beta of 0.80. The business’s fifty day moving average is $1.08 and its 200 day moving average is $0.95.

Elutia (NASDAQ:ELUT) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $3.11 million during the quarter, compared to the consensus estimate of $3.00 million.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Elutia from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings upgraded Elutia from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Elutia 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.