Key Points
- David Colpman, a director of Elutia, purchased 15,500 shares on November 17 at an average price of $0.74, boosting his ownership by 500.32% to 18,598 shares (SEC filing).
- ELUT shares trade around $0.66 with a market cap of $27.85 million; the company posted a surprise EPS beat of ($0.01) versus ($0.16) expected but missed revenue at $3.32 million versus $6.65 million consensus.
- 74.03% of Elutia is held by hedge funds and institutions, several of which materially increased positions recently, while analysts' consensus rating is "Hold" with a $7.00 price target.
Elutia Inc. (NASDAQ:ELUT - Get Free Report) Director David Colpman purchased 15,500 shares of the business's stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $0.74 per share, for a total transaction of $11,470.00. Following the transaction, the director owned 18,598 shares of the company's stock, valued at $13,762.52. This trade represents a 500.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Elutia Price Performance
Shares of ELUT stock traded down $0.00 during trading hours on Thursday, hitting $0.66. The stock had a trading volume of 33,863 shares, compared to its average volume of 102,236. The firm has a market capitalization of $27.85 million, a PE ratio of -0.62 and a beta of 0.78. The stock's 50 day moving average is $0.93 and its 200 day moving average is $1.60. Elutia Inc. has a twelve month low of $0.64 and a twelve month high of $5.12.
Elutia (NASDAQ:ELUT - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.15. The business had revenue of $3.32 million during the quarter, compared to analysts' expectations of $6.65 million. As a group, equities analysts predict that Elutia Inc. will post -1.74 earnings per share for the current year.
Institutional Trading of Elutia
A number of institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. raised its position in Elutia by 310.8% in the first quarter. Alyeska Investment Group L.P. now owns 2,643,445 shares of the company's stock worth $6,688,000 after acquiring an additional 2,000,000 shares in the last quarter. Nantahala Capital Management LLC grew its stake in shares of Elutia by 11.2% during the 1st quarter. Nantahala Capital Management LLC now owns 3,184,947 shares of the company's stock worth $8,058,000 after purchasing an additional 320,000 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Elutia during the 1st quarter worth $28,000. Perkins Capital Management Inc. increased its holdings in shares of Elutia by 32.1% in 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 in the last quarter. Finally, AIGH Capital Management LLC increased its holdings in shares of 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 in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ELUT has been the subject of several recent research reports. Wall Street Zen upgraded shares of Elutia to a "sell" rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Elutia in a research note on Wednesday, October 8th. Finally, Lake Street Capital decreased their price target on Elutia from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.00.
Read Our Latest Stock Analysis on ELUT
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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