Elutia (NASDAQ:ELUT) Director Kevin Rakin Buys 70,000 Shares of Stock

Elutia Inc. (NASDAQ:ELUT) Director Kevin Rakin acquired 70,000 shares of the company’s stock in a transaction on Friday, January 30th. The stock was acquired at an average price of $1.06 per share, with a total value of $74,200.00. Following the acquisition, the director owned 196,120 shares in the company, valued at approximately $207,887.20. This trade represents a 55.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Kevin Rakin also recently made the following trade(s):

• On Wednesday, December 17th, Kevin Rakin bought 50,000 shares of Elutia stock. The shares were acquired at an average cost of $0.52 per share, for a total transaction of $26,000.00.

Elutia Stock Down 2.9%

Shares of Elutia stock opened at $1.02 on Tuesday. The business has a 50 day moving average of $0.72 and a 200 day moving average of $1.15. Elutia Inc. has a 52 week low of $0.50 and a 52 week high of $3.46. The company has a market cap of $43.55 million, a PE ratio of -1.11 and a beta of 0.67.

Elutia (NASDAQ:ELUT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The company had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $6.65 million. On average, research analysts anticipate that Elutia Inc. will post -1.74 earnings per share for the current year.

Hedge Funds Weigh In On Elutia

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in Elutia during the 4th quarter valued at about $25,000. Virtu Financial LLC bought a new position in shares of Elutia in the third quarter worth approximately $26,000. XTX Topco Ltd purchased a new stake in shares of Elutia during the second quarter valued at approximately $28,000. Jane Street Group LLC bought a new stake in shares of Elutia during the first quarter valued at approximately $48,000. Finally, Citadel Advisors LLC bought a new stake in shares of Elutia during the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ELUT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elutia in a research report on Wednesday, January 21st. Wall Street Zen upgraded Elutia to a “sell” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.00.

About Elutia

Elutia, Inc is a biopharmaceutical company focused on the development of novel nitric oxide therapies based on its proprietary polymeric nitric oxide platform. This technology is designed to enable sustained, controlled release of nitric oxide to targeted tissues, potentially overcoming the delivery challenges associated with gaseous nitric oxide and small‐molecule donors.

The company’s lead program is in preclinical development for pulmonary arterial hypertension, with additional research efforts aimed at other cardiovascular and respiratory conditions.