Elutia (NASDAQ:ELUT) Releases Earnings Results

Key Points

• Elutia reported an earnings per share (EPS) of ($0.26) for the quarter, reflecting its current financial challenges.
• Following their earnings report, Lake Street Capital decreased Elutia's price target from $10.00 to $8.00, maintaining a "buy" rating.
• An institutional investor, XTX Topco Ltd, acquired a new position in Elutia by purchasing 14,012 shares worth approximately $28,000, contributing to a majority of 74.03% ownership by institutional investors.

Elutia (NASDAQ:ELUT - Get Free Report) posted its earnings results on Thursday. The company reported ($0.26) EPS for the quarter, Zacks reports.

Elutia Stock Performance

NASDAQ:ELUT traded down $0.01 on Thursday, hitting $2.15. The stock had a trading volume of 45,295 shares, compared to its average volume of 34,875. Elutia has a 1 year low of $1.61 and a 1 year high of $5.12. The firm's fifty day simple moving average is $2.00 and its two-hundred day simple moving average is $2.33. The stock has a market cap of $88.41 million, a P/E ratio of -1.11 and a beta of 0.88.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Elutia

An institutional investor recently bought a new position in Elutia stock. XTX Topco Ltd bought a new stake in Elutia Inc. (NASDAQ:ELUT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,012 shares of the company's stock, valued at approximately $28,000. Institutional investors and hedge funds own 74.03% of the company's stock.

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.

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