Elutia Inc. (NASDAQ:ELUT) is Perkins Capital Management Inc.’s 7th Largest Position

Perkins Capital Management Inc. lifted its stake in Elutia Inc. (NASDAQ:ELUT) by 32.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,136,377 shares of the company’s stock after buying an additional 276,300 shares during the period. Elutia makes up 3.0% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Perkins Capital Management Inc.’s holdings in Elutia were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELUT. AIGH Capital Management LLC increased its position in Elutia by 22.5% during the fourth quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company’s stock worth $11,499,000 after buying an additional 564,233 shares during the period. Silverarc Capital Management LLC increased its holdings in shares of Elutia by 8.3% in the 4th quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock valued at $6,666,000 after acquiring an additional 136,463 shares during the period. Northern Trust Corp raised its position in Elutia by 30.0% in the 4th quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after purchasing an additional 4,148 shares during the last quarter. 683 Capital Management LLC acquired a new stake in Elutia during the 4th quarter worth $302,000. Finally, Citadel Advisors LLC purchased a new position in Elutia during the 4th quarter worth $84,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Elutia Trading Up 1.1%

Elutia stock opened at $1.92 on Friday. The stock has a market capitalization of $78.95 million, a price-to-earnings ratio of -0.99 and a beta of 0.88. The stock has a 50 day moving average of $1.94 and a two-hundred day moving average of $2.43. Elutia Inc. has a twelve month low of $1.61 and a twelve month high of $5.12.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $6.03 million during the quarter, compared to analysts’ expectations of $6.65 million. Equities analysts predict that Elutia Inc. will post -1.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital reduced their target price on shares of Elutia from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 9th.

Elutia 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.