Cantor Fitzgerald Reaffirms Overweight Rating for Elutia (NASDAQ:ELUT)

Elutia (NASDAQ:ELUT)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $10.00 target price on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 180.90% from the company’s previous close.

Elutia Price Performance

ELUT opened at $3.56 on Friday. The stock’s 50 day simple moving average is $3.73 and its 200 day simple moving average is $3.69. Elutia has a 1 year low of $1.39 and a 1 year high of $5.24. The firm has a market cap of $121.25 million, a price-to-earnings ratio of -1.25 and a beta of 0.76.

Institutional Investors Weigh In On Elutia

A number of large investors have recently made changes to their positions in ELUT. Arcus Capital Partners LLC bought a new stake in shares of Elutia in the 2nd quarter worth approximately $50,000. AIGH Capital Management LLC grew its position in shares of Elutia by 288.8% in the 2nd quarter. AIGH Capital Management LLC now owns 1,697,316 shares of the company’s stock worth $8,419,000 after buying an additional 1,260,750 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Elutia by 50.5% in the 2nd quarter. Renaissance Technologies LLC now owns 53,616 shares of the company’s stock worth $266,000 after buying an additional 18,000 shares during the last quarter. Nantahala Capital Management LLC grew its position in shares of Elutia by 8.8% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,795,697 shares of the company’s stock worth $8,907,000 after buying an additional 145,697 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its position in shares of Elutia by 9.8% in the 3rd quarter. Perkins Capital Management Inc. now owns 856,552 shares of the company’s stock worth $3,263,000 after buying an additional 76,450 shares during the last quarter. 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.