Elutia (NASDAQ:ELUT) Raised to “Hold” at Wall Street Zen

Elutia (NASDAQ:ELUT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Elutia in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Elutia presently has a consensus rating of “Hold” and an average price target of $6.00.

Elutia Stock Performance

Shares of Elutia stock opened at $1.10 on Friday. Elutia has a 52-week low of $0.50 and a 52-week high of $3.15. The firm has a market cap of $46.97 million, a PE ratio of 1.34 and a beta of 0.65. The business’s 50 day simple moving average is $1.03 and its 200 day simple moving average is $0.92.

Elutia (NASDAQ:ELUT) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $3.30 million during the quarter, compared to analyst estimates of $3.30 million. As a group, equities research analysts predict that Elutia will post -1.74 EPS for the current year.

Insider Buying and Selling

In other news, Director Kevin Rakin purchased 70,000 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were purchased at an average cost of $1.06 per share, with a total value of $74,200.00. Following the completion of the purchase, the director owned 196,120 shares of the company’s stock, valued at $207,887.20. This trade represents a 55.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought 105,000 shares of company stock valued at $110,900 in the last ninety days. 27.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Elutia during the 4th quarter worth approximately $71,000. Knollwood Investment Advisory LLC increased its position in Elutia by 147.8% in the 4th quarter. Knollwood Investment Advisory LLC now owns 2,556,724 shares of the company’s stock valued at $1,771,000 after acquiring an additional 1,525,157 shares during the period. Renaissance Technologies LLC raised its stake in shares of Elutia by 64.7% during the fourth quarter. Renaissance Technologies LLC now owns 102,116 shares of the company’s stock valued at $71,000 after acquiring an additional 40,123 shares during the last quarter. Rossmore Private Capital bought a new position in shares of Elutia during the fourth quarter valued at $35,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Elutia during the fourth quarter worth $25,000. Institutional investors own 74.03% of the company’s stock.

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.