Elutia Inc. (NASDAQ:ELUT - Get Free Report) dropped 1% during trading on Wednesday . The stock traded as low as $1.85 and last traded at $1.92. Approximately 8,085 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 51,054 shares. The stock had previously closed at $1.94.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Lake Street Capital reduced their price target on Elutia from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Cantor Fitzgerald restated an "overweight" rating and set a $8.00 target price on shares of Elutia in a report on Friday, March 7th.
Check Out Our Latest Stock Analysis on ELUT
Elutia Stock Performance
The company has a fifty day moving average price of $2.09 and a two-hundred day moving average price of $2.96. The company has a market cap of $78.12 million, a P/E ratio of -0.73 and a beta of 0.97.
Elutia (NASDAQ:ELUT - Get Free Report) last posted 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 business had revenue of $6.03 million during the quarter, compared to analysts' expectations of $6.65 million. Research analysts anticipate that Elutia Inc. will post -1.74 EPS for the current year.
Institutional Investors Weigh In On Elutia
A number of institutional investors and hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new position in Elutia during the first quarter worth approximately $28,000. Jane Street Group LLC acquired a new position in shares of Elutia during the 1st quarter worth approximately $48,000. Arcus Capital Partners LLC bought a new stake in Elutia in the 1st quarter valued at $51,000. Northern Trust Corp lifted its holdings in Elutia by 30.0% during 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. Finally, Citadel Advisors LLC acquired a new stake in Elutia during the 4th quarter valued at $84,000. 74.03% of the stock is owned by institutional investors.
About Elutia
(
Get Free Report)
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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