Elutia (NASDAQ:ELUT) Trading Down 2.5% - What's Next?

Shares of Elutia Inc. (NASDAQ:ELUT - Get Free Report) fell 2.5% during trading on Friday . The company traded as low as $2.09 and last traded at $2.11. 4,737 shares were traded during trading, a decline of 89% from the average session volume of 42,605 shares. The stock had previously closed at $2.16.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital cut 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.

Elutia Price Performance

The business has a 50 day moving average of $1.89 and a 200 day moving average of $2.59. The firm has a market capitalization of $93.75 million, a price-to-earnings ratio of -1.18 and a beta of 0.88.

Elutia (NASDAQ:ELUT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The company had revenue of $6.03 million during the quarter, compared to analyst estimates of $6.65 million. On average, sell-side analysts forecast that Elutia Inc. will post -1.74 EPS for the current fiscal year.

Institutional Trading of Elutia

Large investors have recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp bought a new stake in Elutia in the first quarter valued at $28,000. Northern Trust Corp grew its position in Elutia by 30.0% in the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company's stock valued at $67,000 after acquiring an additional 4,148 shares during the period. Jane Street Group LLC bought a new stake in Elutia in the first quarter valued at $48,000. Arcus Capital Partners LLC bought a new stake in Elutia in the first quarter valued at $51,000. Finally, Citadel Advisors LLC bought a new stake in Elutia in the fourth quarter valued at $84,000. 74.03% of the stock is currently owned by institutional investors.

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.