Nantahala Capital Management LLC Has $8.06 Million Stock Holdings in Elutia Inc. $ELUT

Key Points

• Nantahala Capital Management LLC increased its stake in Elutia Inc. by 11.2%, acquiring an additional 320,000 shares, totaling 3,184,947 shares valued at approximately $8.06 million.
• Elutia's stock is facing a downgrade from Lake Street Capital, which lowered its price target from $10.00 to $8.00, but maintains a "buy" rating.
• The company recently reported disappointing earnings, with a loss of ($0.26) EPS, missing the consensus estimate of ($0.17) EPS.

Nantahala Capital Management LLC raised its position in Elutia Inc. (NASDAQ:ELUT - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,184,947 shares of the company's stock after buying an additional 320,000 shares during the quarter. Nantahala Capital Management LLC owned about 7.82% of Elutia worth $8,058,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp bought a new position in Elutia in the 1st quarter valued at about $28,000. Knollwood Investment Advisory LLC grew its holdings in shares of Elutia by 10.7% during the 1st quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company's stock valued at $2,618,000 after purchasing an additional 100,000 shares during the last quarter. Perkins Capital Management Inc. grew its holdings in shares of Elutia by 32.1% during the 1st quarter. Perkins Capital Management Inc. now owns 1,136,377 shares of the company's stock valued at $2,875,000 after purchasing an additional 276,300 shares during the last quarter. AIGH Capital Management LLC grew its holdings in shares of Elutia by 10.0% during 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. Finally, Arcus Capital Partners LLC bought a new stake in shares of Elutia during the 1st quarter valued at approximately $51,000. 74.03% of the stock is owned by institutional investors.

Elutia Trading Down 6.5%

NASDAQ:ELUT traded down $0.13 during mid-day trading on Friday, hitting $1.88. 202,022 shares of the company's stock were exchanged, compared to its average volume of 44,111. The company has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $2.25. Elutia Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $5.12. The firm has a market capitalization of $79.71 million, a P/E ratio of -1.77 and a beta of 0.89.

Elutia (NASDAQ:ELUT - Get Free Report) last posted 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 company had revenue of $6.26 million for the quarter, compared to analyst estimates of $6.55 million. As a group, analysts expect that Elutia Inc. will post -1.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Lake Street Capital decreased their price target on shares of Elutia from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Elutia has a consensus rating of "Buy" and a consensus target price of $8.00.

About Elutia

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.