Elutia (NASDAQ:ELUT) Director Guido Neels Buys 20,000 Shares

Elutia Inc. (NASDAQ:ELUT) Director Guido Neels purchased 20,000 shares of Elutia stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average price of $1.04 per share, with a total value of $20,800.00. Following the completion of the transaction, the director owned 118,750 shares of the company’s stock, valued at $123,500. This represents a 20.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Elutia Trading Down 2.9%

Elutia stock opened at $1.02 on Tuesday. The firm has a market cap of $43.55 million, a PE ratio of -1.11 and a beta of 0.67. Elutia Inc. has a 12 month low of $0.50 and a 12 month high of $3.46. The stock’s 50 day simple moving average is $0.72 and its two-hundred day simple moving average is $1.15.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on ELUT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a research report on Wednesday, January 21st. Wall Street Zen raised Elutia to a “sell” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.00.

Institutional Trading of Elutia

A number of institutional investors have recently made changes to their positions in ELUT. Jane Street Group LLC acquired a new position in Elutia in the 1st quarter valued at $48,000. Arcus Capital Partners LLC lifted its stake in shares of Elutia by 50.3% in the second quarter. Arcus Capital Partners LLC now owns 30,050 shares of the company’s stock worth $59,000 after buying an additional 10,050 shares in the last quarter. AIGH Capital Management LLC boosted its position in Elutia by 2.1% during the second quarter. AIGH Capital Management LLC now owns 3,451,025 shares of the company’s stock worth $6,833,000 after acquiring an additional 69,610 shares during the last quarter. XTX Topco Ltd purchased a new stake in Elutia during the 2nd quarter valued at about $28,000. Finally, Deerfield Management Company L.P. purchased a new stake in Elutia during the 3rd quarter valued at about $1,221,000. 74.03% of the stock is owned by institutional investors and hedge funds.

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.