Elutia Inc. (NASDAQ:ELUT) Director Purchases $1,050,000.00 in Stock

Elutia Inc. (NASDAQ:ELUT) Director Highcape Capital, L.P. purchased 420,000 shares of Elutia stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $2.50 per share, with a total value of $1,050,000.00. Following the transaction, the director now directly owns 9,520,232 shares of the company’s stock, valued at $23,800,580. This represents a 4.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Elutia Stock Down 2.2 %

Elutia stock opened at $3.18 on Friday. Elutia Inc. has a 52-week low of $2.28 and a 52-week high of $5.24. The firm’s fifty day moving average is $3.04 and its 200 day moving average is $3.61. The company has a market cap of $109.91 million, a price-to-earnings ratio of -1.22 and a beta of 0.86.

Institutional Investors Weigh In On Elutia

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Elutia by 50.3% during the 3rd quarter. Geode Capital Management LLC now owns 188,408 shares of the company’s stock valued at $718,000 after purchasing an additional 63,047 shares in the last quarter. AIGH Capital Management LLC grew its holdings in Elutia by 22.5% in the fourth quarter. AIGH Capital Management LLC now owns 3,074,675 shares of the company’s stock worth $11,499,000 after purchasing an additional 564,233 shares during the last quarter. Silverarc Capital Management LLC raised its stake in Elutia by 8.3% in the fourth quarter. Silverarc Capital Management LLC now owns 1,782,271 shares of the company’s stock valued at $6,666,000 after buying an additional 136,463 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Elutia by 30.0% during the fourth quarter. Northern Trust Corp now owns 17,957 shares of the company’s stock valued at $67,000 after buying an additional 4,148 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of Elutia during the fourth quarter worth $302,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of Elutia in a research report on Friday, March 7th.

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.