Alyeska Investment Group L.P. Acquires 2,000,000 Shares of Elutia Inc. $ELUT

Key Points

• Alyeska Investment Group L.P. increased its ownership in Elutia Inc. (NASDAQ:ELUT) by 310.8%, acquiring an additional 2,000,000 shares to reach a total of 2,643,445 shares.
• Elutia reported a loss of $0.26 EPS for its latest quarter, missing the consensus estimate, with revenue of $6.26 million, which was below analyst expectations of $6.55 million.
• The stock currently has a consensus rating of "Buy" with an average price target of $8.00, although Lake Street Capital recently reduced its target from $10.00 to $8.00.

Alyeska Investment Group L.P. lifted its holdings in Elutia Inc. (NASDAQ:ELUT - Free Report) by 310.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,643,445 shares of the company's stock after acquiring an additional 2,000,000 shares during the quarter. Alyeska Investment Group L.P. owned approximately 6.49% of Elutia worth $6,688,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AIGH Capital Management LLC raised its position in Elutia by 10.0% in the 1st quarter. AIGH Capital Management LLC now owns 3,381,415 shares of the company's stock valued at $8,555,000 after purchasing an additional 306,740 shares during the last quarter. Nantahala Capital Management LLC increased its stake in shares of Elutia by 11.2% in the first quarter. Nantahala Capital Management LLC now owns 3,184,947 shares of the company's stock valued at $8,058,000 after buying an additional 320,000 shares in the last quarter. Perkins Capital Management Inc. increased its stake in shares of Elutia by 32.1% in the first quarter. Perkins Capital Management Inc. now owns 1,136,377 shares of the company's stock valued at $2,875,000 after buying an additional 276,300 shares in the last quarter. Knollwood Investment Advisory LLC raised its holdings in shares of Elutia by 10.7% in the first quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company's stock valued at $2,618,000 after buying an additional 100,000 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Elutia by 16.4% during the 4th quarter. Millennium Management LLC now owns 45,217 shares of the company's stock worth $169,000 after buying an additional 6,386 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Elutia Trading Down 3.7%

Shares of NASDAQ:ELUT traded down $0.05 during mid-day trading on Thursday, reaching $1.31. The stock had a trading volume of 192,340 shares, compared to its average volume of 153,901. The firm has a 50 day simple moving average of $2.05 and a two-hundred day simple moving average of $2.20. Elutia Inc. has a twelve month low of $1.30 and a twelve month high of $5.12. The firm has a market cap of $55.54 million, a PE ratio of -1.24 and a beta of 0.89.

Elutia (NASDAQ:ELUT - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $6.26 million for the quarter, compared to analysts' expectations of $6.55 million. On average, equities analysts anticipate that Elutia Inc. will post -1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital decreased their price objective on shares of Elutia from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Elutia currently has a consensus rating of "Buy" and a consensus price target of $7.00.

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.